SAN FRANCISCO, July 10, (THEWILL) – Airtel Africa Plc started trading on the Nigerian Stock Exchange (NSE) on Tuesday with a strong enthusiasm, rallying N136.4 billion gain in the immediate hour after its shares were listed on the Exchange.
It’s share price rose by the maximum daily allowable percentage change of 10 per cent to close at N399.30 per share.
The NSE listed 3.758 billion ordinary shares of Airtel Africa on its main board at N363 per share, the offer price for the telco’s initial public offering (IPO).
Speaking on the floor of the Exchange, Managing Director, Airtel Network Limited (Airtel Nigeria), Mr. Segun Ogunsanya, noted that Nigeria has been a great place for business and Airtel Africa remains committed to building a leadership position in Nigeria.
“Investors have been interested to hear our story, and importantly they have been interested enough to invest in our business and are now ready to share the future with us,” Ogunsanya said.
Airtel Africa had last week listed on the London Stock Exchange (LSE), its primary listing exchange, at 80 pence dropping by as much as 16 per cent during the first trading session.
As against the weak start on the first trading day at LSE, Airtel Africa’s dual listing on the NSE started on a positive note, with the telco leading the Nigerian market to a total gain of N1.38 trillion.
Airtel Africa, a leading provider of telecommunications and mobile money services, is the holding company of Airtel Networks Limited (Airtel Nigeria) and 13 other subsidiaries in Africa.