05 July 2019 : Despite not being able to meet the minimum requirement of 300 shareholders, the Nigerian Stock Exchange gave the waiver to Airtel Africa Plc to list on the main board. 

According to a circular from NSE, The listing will take place through a cross border secondary listing at N363 per share today, following an Initial Public Offering by way of book building, thus issuing 39,227,968 ordinary shares of $0.50 each at N363 per share in Nigeria and 637,178,959 ordinary shares of $0.50 each at £0.80 per share in London.

The telecom firm is listing its entire issued share capital of 3,758,151,504 ordinary shares at $0.5 per share on the LSE and NSE. The total value of the listed shares in Nigeria is N1.36 trillion.

NSE also mentioned that the free float of Airtel across the LSE and the NSE at the close of IPO is about 25%

NSE stated “Having two big telecommunications companies in our market is a testament of the Exchange’s commitment to building a dynamic and inclusive market and creating channels for sustainable investment.“These listings create telecoms and technology asset class for investors and provide opportunities for a wider group of Nigerians to be part of the Nigerian telecom growth story”.

Airtel Africa Plc had listed on the London Stock Exchange (LSE) through the primary listing exchange while Nigerian listing is secondary.

Reporting for EasyKobo on Friday , 05 July 2019 in Lagos, Nigeria