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

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

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The Nigerian Stock Exchange (NSE) says it is aware of various speculative reports which stated that the postponed Airtel Africa listing on NSE is scheduled for Monday, July 8, 2019. Rather, the NSE on Sunday said the official date for the listing is Tuesday, July 9th, 2019. The shares of the telco would have been…

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Airtel Africa listing delayed by uncompleted procedural processes, says Mandava

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The planned listing of Airtel Africa on the Nigerian Stock Exchange (NSE) earlier scheduled for Friday was postponed due to uncompleted procedural processes, the Chief Executive Officer of the firm, Raghunath Mandava, has said. 
 
Mandava who was represented by the Managing Director and Chief Executive Officer of Airtel Nigeria, the Nigerian subsidiary of the firm, Segun Ogunsanya, made this known at the Fact Before the Listing held at the NSE on Friday. 
 
Although the CEO did not give details of the “processes” which he said the company was involved in with the capital market regulators, he only assured they would be finalized by the close of business on Friday. 
 
“We just have some procedural delay,” he said. “All the processes are in place, I am sure they will be completed today (Friday).”
 
The firm is expected to list on Monday once the processes are completed, according to the Airtel boss. 
 
On his part, Oscar Onyema, the CEO of the NSE, noted that the local bourse is a highly regulated market and it would notify the investing public on the new date Airtel Africa would list at the Exchange. 
 
“We would advise appropriately when the listing will happen,” Onyema said. “We need to have all the pieces of information together, there are processes at the back end that need to happen before we can list and trade.”

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