Airtel listing on Nigerian Stock Exchange billed for Tuesday

AIRTEL office used to illustrate the story. [PHOTO CREDIT: Stackpreneur]
AIRTEL office used to illustrate the story. [PHOTO CREDIT: Stackpreneur]

The proposed listing by Airtel Africa Plc on the Nigerian Stock Exchange has will hold on Tuesday, the NSE said.

A statement by the Nigerian bourse said the listing would not hold on Monday, contrary to media speculation.

“The Exchange is aware of various media reports stating that the postponed Airtel Africa listing on NSE is scheduled for Monday, July 8,” the NSE said in a statement at the weekend.

“Please be informed that the official date for the listing is Tuesday, July 9.”

On Friday, the NSE had postponed the listing of Airtel’s shares a few hours to the scheduled time.

According to the NSE, the postponement was done because there were processes yet to be followed by the firm.

“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,” it added in a statement Friday.

The facts before the listing event however held as planned on same day.

The NSE had earlier said that it granted a waiver to the firm because it did not meet the minimum requirement of 300 shareholders as of the day the listing was approved by the National Council of the Exchange.

“This is a highly-regulated matter; there are back-end processes that need to be followed by the company,” Oscar Onyema, the NSE Chief Executive Officer, said.

The Tuesday listing is said to be a secondary listing of 3,758,151,504 ordinary shares by the telecommunication firm.


PT Mag Campaign AD

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


TEXT AD: To advertise here . Call Willie +2347088095401...

NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.