Home Business NSE Postpones Airtel Africa 3.7bn listing over postlisting requirement

NSE Postpones Airtel Africa 3.7bn listing over postlisting requirement

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The Nigerian Stock Exchange (NSE) has announced that the planned cross border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa Plc has been postponed from Friday’s scheduled listing.

The bourse in a statement on Friday morning said the postponement was necessitated by the need to ensure that the Company meets all the post NSE approval pre-requisites.

The Exchange on Thursday had said it granted waiver to Airtel Nigeria despite its inability to attract up to 300 institutional investors which is a minimum pre-listing requirement needed to be met before it becomes listed.

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

The NSE management at a pre-listing media interactive session said Airtel Nigeria disclosed that it would be listing 39, 227,968 ordinary shares of 60 cents at N363 per share, preparatory to the main listing session on the NSE tomorrow. The total value of the listing is N1,354,208,995,952.

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