Airtel Africa finally Listed on Nigerian Stock Exchange

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The Nigerian Stock Exchange (NSE) has just completed the Cross Border Secondary Listing of 3,758,151,504 ordinary shares of Airtel Africa Plc.

The Nigerian Stock Exchange in its latest tweet said: ‘We are pleased to announce the Cross Border Secondary Listing of 3,758,151,504 ordinary shares of Airtel Africa Plc The shares were listed at an offer price of N363 per ordinary share on the Main Board of The Exchange’.

BRANDPOWER had reported on Monday that the listing of the telecommunication giant will be done on Tuesday. And at exactly 5:45pm on Tuesday, the Executive Management of Airtel Africa Plc struck the gong to signal the close of trade which mark the listing of the telecomm brand on the Nigerian Stock Exchange.

Oscar N. Onyema, OON, CEO, NSE (left) presents the replica of the NSE Closing Gong to Mr. Segun Ogunsanya, CEO, Airtel Nigerian (Right).

The listing was billed for last Friday but was postponed. According to the Exchange, the postponement was necessitated by the need to ensure that Airtel meets all the post NSE approval pre-requisites for listing on the Exchange.

It was gathered that one of the key issues that delayed the listing was the failure of Airtel Africa to meet the number of required qualified and high net worth investors for listing on the Exchange.

READ ALSO: Airtel Africa’s Stock to Commence Trading at N454 per Share

As at then, Airtel was only able to gather 130 investors as against 300 under the rules of the NSE. But the listing of the Telecomm brand on NSE on Tuesday suggests that the telecommunication company had met most of the requirements if not all.

Samson Oyedeyi

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