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NSE Grants Waiver to Airtel Africa, Telecom Giant to List 3.7 billion shares On Tuesday

NSE Grants Waiver to Airtel Africa, Telecom Giant to List 3.7 billion shares On Tuesday

The Nigerian Stock Exchange (NSE) has disclosed that on The Exchange tomorrow the 9th of July, Airtel Africa will be listing its 3.7 billion shares.

In a statement on Sunday the 6th of July, Olumide Orojimi, Head of Corporate Communications, NSE, said: “Please be informed that the official date for the listing is Tuesday, July 9, 2019.”Initially, the planned cross border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa Plc was scheduled for Friday the 4th of July but the bourse in a statement on Friday morning announced a reschedule.

According to the bourse, a postponement was necessary to ensure that the Company meets all the post NSE approval pre-requisites.

At a pre-listing media interactive session on Thursday the 3rd of July, NSE said despite Airtel Nigeria’s inability to attract up to 300 institutional investors which is a minimum pre-listing requirement needed to be met before it becomes listed, it granted a waiver to the company.

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The telecom giant could only attract 130 institutional and high net worth investors as shareholders.

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