Airtel Africa all set to toss MTN Nigeria from it’s throne of Monopoly- Starting July 5th   

1 July 2019 : Shareholders of MTN Nigeria are on the edge of their seats, biting their nails as Airtel Africa Plc will list on Nigerian Stock Exchange (NSE) next week on July 5 exactly 2 days after the telecommunication giant will start trading on the London Stock Exchange. 

The company released a document on Friday, according to which “UK Admission is expected to become effective and unconditional dealings are expected to commence on the London Stock Exchange 3 July 2019 and Nigerian Admission is expected to become effective and unconditional dealings in the Shares sold pursuant to the Nigerian Offer is expected on or around 5 July 2019,”

The mission for this connective listing is so the telecom firm can reduce its current debts and value the company at N1.4 trillion ($3.9 billion) market cap.

Airtel Africa Ltd, a subsidiary of India’s Bharti Airtel Ltd, authorised 8 banks its IPO, which included JP MorganCitigroup IncBofA Merrill LynchAbsa Group LimitedBarclays BankPlcBNP ParibasGoldman Sachs International and Standard Bank Group Ltd.

The telecom has a strong hold over Africa, operating in about 14 countries, with Nigeria being its largest market.

Reporting for EasyKobo on Monday , 01 July 2019 in Lagos, Nigeria

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