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Airtel Africa Live on NSE, Lists 3.7bn Shares



Airtel Financial Results
  • Airtel Africa Live on NSE, Lists 3.7bn Shares

Airtel Africa Plc on Tuesday became the second telecommunication company to be listed on the Nigerian Stock Exchange following MTN Nigeria Plc.

The telecommunication giant listed 3,758,151,504 ordinary shares at N363 per share.

In a statement released by NSE, the listing of Airtel Africa has further deepened the Exchange as it added N1.36 trillion to the total market capitalisation of the market.

“It will also increase the visibility of Airtel Africa to investors on the continent and across the globe,” part of the statement read.

Mr Raghunath Mandava, the Chief Executive Officer, Airtel Africa, said was happy to be listed on the main board of the stock exchange.

He said, “This is an exciting time for Airtel Africa in the 14 countries it operates in and an important milestone in our development as a leading provider of telecommunications and mobile money services in Africa.”

Mr Oscar Onyema, the Chief Executive Officer, NSE, commended Airtel Africa for joining MTN Nigeria to list on the Nigerian Stock Exchange.

Onyema said, “Listing on the Exchange reaffirms Airtel Africa’s long-term commitment to expanding opportunities and providing everyday services to Africans and Nigerians in particular.

“It also indicates the firm’s belief that our platform, which has a total market capitalisation of N25.20tn across various asset classes, remains a veritable avenue for raising capital and enabling sustainable national growth.

“This listing serves to deepen the telecoms and technology sector for investors and provides an opportunity for a wider group of Nigerians to be part of the African telecoms growth story.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.