Airtel Africa finally listed on the Nigerian Stock Exchange today at N363 per share. With this listing of 3,758,151,504 ordinary shares of Airtel Africa Plc and valued at 1.364 trillion Naira, this makes it the bourse’s third-largest stock by market capitalisation after MTN Nigeria and Dangote Cement Plc.
The secondary listing had been planned for July 5. However, the stock exchange postponed it to ensure the telecoms company met its requirements. The NSE said in a circular that it granted a waiver to the firm as it did not meet the minimum requirement of 300 shareholders as of the day the listing was approved by the National Council of the Exchange.
The company listed on the London Stock Exchange two weeks ago and said it would dual list in Nigeria, its biggest market in Africa.
This will be the second telecoms listing this year on the Nigerian Stock Exchange after MTN listed on the Nigerian Stock Exchange last month.
MTN Nigeria is currently valued at $7.2 billion.
