Airtel Africa to List 3.758bn Shares on NSE Tuesday

By Dipo Olowookere

Tuesday, July 9, 2019 has now been fixed as the new date for the listing of about 3.758 billion ordinary shares of Airtel Africa Plc on the Nigerian Stock Exchange (NSE) at a unit price of N363.

The exercise was earlier scheduled for Friday, July 5, 2019, but was postponed at the last minute as a result of the company’s inability to meet pre-listing requirements, including getting the authorization of the Securities and Exchange Commission (SEC).

However, it seems the third largest telecommunications firm in Nigeria behind MTN Nigeria and Globacom has obtained the necessary things needed for the listing.

A statement issued by the NSE on Sunday said the exercise will now take place tomorrow and the company would be expected to ‘paint the market red.’

“The Exchange is aware of various media reports stating that the postponed Airtel Africa listing on NSE is scheduled for Monday, July 8.

“Please be informed that the official date for the listing is Tuesday, July 9,” the statement by the NSE yesterday disclosed.

Business Post reports that on Tuesday, Airtel Africa would be doing a cross-border secondary listing of a total of 3,758,151,504 ordinary shares.

On June 28, 2019, the company listed its shares on the trading floor of the London Stock Exchange (LSE) at 80 pence, approximately N363 per unit.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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