NSE lists Airtel Africa, telco adds N1.36trn to market – TheNigerialawyer

The Nigerian Stock Exchange (NSE), yesterday, admitted the Cross
Border Secondary Listing of 3,758,151,504 ordinary shares of Airtel
Africa Plc. on the main board of the Exchange.

The shares were listed at an offer price of N363 per ordinary
share on the Main Board of The Exchange and at 80 pence per
ordinary share on the main market of the London Stock Exchange, the
primary listing exchange.

The listing of the company’s shares has added N1.36 trillion to
the market capitalization of the Exchange, further deepening the
Nigerian capital market.

It will also increase the visibility of Airtel Africa to
investors on the continent and across the globe.

Airtel Africa, a provider of telecommunications and mobile money
services, is the holding company of Airtel Networks Limited (Airtel
Nigeria) and 13 other subsidiaries in Africa – Airtel Congo S.A.,
Airtel Gabon S.A., Celtel Niger S.A., Airtel Congo RDC S.A. (DRC),
Airtel Tanzania Plc., Airtel Networks Zambia Plc., Airtel Networks
Kenya Limited, Airtel Tchad S.A., Airtel Madagascar S.A, Airtel
Malawi Limited, Airtel Rwanda Limited, Airtel Uganda Limited and
Airtel (Seychelles) Limited.

Commenting on the development, the Chief Executive Officer of
Airtel Africa, Raghunath Mandava, said: “Airtel Africa is delighted
to be listed on the main board of the Exchange. 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.”

Speaking on the floor of the Exchange, the Chief Executive
Officer and Managing Director of Airtel Nigeria, Segun Ogunsanya,
said: “Nigeria is a great place for business and Airtel Africa
remains committed to building a leadership position here.

“Investors have been interested to hear our story, and
importantly they have been interested enough to invest in our
business and are now ready to share the future with us.”

Mr. Oscar Onyema, Chief Executive Officer, NSE, commended the
telecom firm for taking the bold step to list on the Exchange.

“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
capitalization of N25.20 trillion 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.

“Today’s listing is a promising development in Africa with
Airtel Africa being the second company to have its ordinary shares
listed on both the London Stock Exchange and The Nigerian Stock
Exchange. This gives credence to the successful partnership between
the two exchanges. I encourage similar situated companies to
explore the different opportunities for raising capital on the
Exchange’s platform,” Onyema added.

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