By Hamisu B. S
The Nigerian Stock Exchange has recorded another milestone with the Cross Border Secondary Listing of 3,758,151,504 ordinary shares of Airtel Africa Plc on Tuesday, July 9, 2019. The shares were listed at an offer price of N363 per ordinary share. Airtel Africa Plc has a primary listing on the main market of the London Stock Exchange, The listing of the company’s shares has added N1.36Tn to the market capitalization of The Exchange, further deepening the Nigerian capital market.
While commenting Mr. Oscar N. Onyema, OON, Chief Executive Officer, NSE, commended Airtel Africa Plc 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 N25.20Tn 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”.
It will be recalled that earlier in the year MTN Nigeria Listed on the Telecommunication sector of the NSE.