Airtel gains 10% on 7 trades valued at N39.9 million

Updated: NSE to list Airtel Africa shares on Tuesday, July 9

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The shares of Airtel Africa Plc advanced by a maximum limit of 10 percent or N36.3kobo on its first day of listing on the Nigerian Stock Exchange (NSE).

The gains came despite a late listing of the telco’s shares at about 2.18pm Nigerian time.

Airtel Africa Plc successfully listed more than 3.75 billion ordinary shares on the daily official list of the Nigerian Stock Exchange (NSE) Tuesday.

The share price rose to N399.3 from a listing price of N363, with a total trade valued at N39.9 million.

A source at the NSE said 100,000 units of shares were traded, intended to move the price. Unofficial source linked the transacted unit to Chapel Hill.

The shares of Airtel were listed at the Lagos bourse at 2:18PM Nigerian time after the Chief Executive Officer of the NSE, Oscar Onyema, approved the request.

 

 

David Ibidapo, Oluwasegun Olakoyenikan & Bunmi Bailey



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