Airtel Africa Plc's initial public offering of its mobile money business could raise between $1.5 billion and $2 billion, according to people familiar with the matter.London is now the most likely location for the listing of Airtel Money, the people said, asking not be identified as the information is still private. An exchange in the United Arab Emirates has previously been reported as the preferred venue, and other European venues have been considered, Bloomberg reported previously.The listing could value Airtel Money at as much as $10 billion, the people said, a valuation that would put it among the largest IPOs on a European exchange in recent years.Airtel is mostly owned by billionaire Sunil Mittal's Bharti Enterprises Ltd and is Africa's third-largest wireless carrier. It has long been planning an IPO of Airtel Money after years of rapid growth. Airtel Africa's Chief Executive Officer Sunil Taldar said in February that the firm is committed to listing the unit by the middle of year, a timeline which now looks tight.The company is working with Citigroup Inc. on the IPO, and three or four more banks could be appointed for the listing, they said.ALSO READ: Kissht Parent OnEMI Technology IPO GMP Indicates Modest Listing Pop Ahead Of April 30 DebutRepresentatives for Airtel Africa and Citigroup declined to comment. The listing plans are still at an early stage, and no final decisions have been made on the deal size, timing and location, the people said.Airtel Money has a series of international investors including TPG Inc., Mastercard Inc., and an affiliate of Qatar's sovereign wealth fund. The business's nine month revenues grew by 29.4% to $986 million last year, with users crossing 52 million for the first time, according to Airtel Africa's third quarter results. Airtel Africa will report full year results on May 8. Africa has become a hub for fintech companies looking to tap a young population increasingly using technology for banking services. Airtel Africa operates in 14 countries and is listed in London and Lagos. It's one of several businesses controlled by Mittal, who together with his family has a net worth of more than $24.5 billion, according to the Bloomberg Billionaires Index.His portfolio also includes Indian telecommunications firm Bharti Airtel Ltd. and UK-based satellite company OneWeb. Last year, a unit of Bharti Enterprises acquired a 24.5% stake in BT Group Plc.(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)