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Airtel finally completes listing of N3.76bn shares on NSE at N363

Airtel announces N363 per share IPO on NSE

The Nigerian Stock Exchange (NSE) on Tuesday accepted the planned Cross Border Secondary Listing of 3,758,151,504 ordinary shares of Airtel Africa Plc at N363.

This is coming days after the initial planned enlisting.

The Chief Executive Officer of the NSE, Oscar Onyema, had in a statement last week announced the postponement saying the company did not meet the minimum requirement of 300 shareholders as of the day the listing was approved by the National Council of the Exchange.

“This is a highly-regulated matter; there are back-end processes that need to be followed by the company,” stated the NSE boss.

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However, the coast was clear on Tuesday as the company becomes a Public Limited company, making it the second company in the telecommunications sector to be enlisted on NSE after MTN Nigeria listed on May this year.

The NSE boss flanked by Airtel’s officials, including Segun Ogunsanya, the Managing Director and Chief Executive Officer of Airtel Nigeria, stepped into the trading floor at exactly 2:16 pm to carry out the rites.

Pronouncing the listing on Tuesday, Oscar, on behalf of the National Council of the Exchange, urged investors to start making their orders.

Ogunsanya, who spoke on behalf of Airtel Africa expressed delight in the listing which he said would guide financial decisions.

“I am delighted to see that our shares are being listed on the Nigerian Stock Exchange. It will enable connectivity and financial decision through mobile network,” he said.

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