Nigeria’s third largest mobile telecom operator, Airtel Africa has announced plans to list its shares on the Nigerian Stock Exchange on Monday, July 8, 2019, after the exchange postponed the listing earlier scheduled for Friday.
The NSE said the secondary listing of Airtel Africa’s cross-border listing of 3.76 billion shares planned for Friday, had been postponed to ensure the telecoms company satisfy all the post NSE approval pre-requisites for listing on NSE.
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The exchange explained that it allowed the telecoms company to go ahead with an investor presentation on Friday as earlier scheduled.
Airtel last week offered shares of its African unit on the London Stock Exchange, through an initial public offer.
The Nigerian Stock Exchange has announced the postponement of the earlier planned Cross-Border secondary listing of 3.758bn ordinary shares of Airtel Africa plc from the scheduled date of Friday, July 5, 2019.
According to a statement from NSE, the postponement was necessitated by the need to ensure that Airtel Africa meets all the post-NSE approval pre-requisites for listing on the local stock market.
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“The Nigerian Stock Exchange announced that the planned Cross Border Secondary Listing of 3,758,151,504 ordinary shares of Airtel Africa Plc. (Company) has been postponed from the scheduled date of Friday, July 5, 2019.
“This postponement was necessitated by the need to ensure that the Company meets all the post NSE approval pre-requisites for listing on the NSE. However, the Facts Before the Listing event will hold as planned at 11.00 a.m. on Friday, July 5, 2019.”
The exchange did not specify a new listing date for Airtel but said the NSE will provide further communications on the issue when all the conditions for the listing in its market have been met.”
The telecommunications company planned to list at least 500 million shares on the Nigeria Stock Exchange with an initial offer of N363 per unit, becoming the second after MTN Nigeria listed 20 billion ordinary shares at N90 per unit