Airtel Nigeria was unable to attract up to 300 institutional investors, a minimum pre-listing requirement it needed to meet in order to become listed on the Nigerian Stock Exchange. The telecom company was only able to attract 130 institutional and high net worth investors as shareholders.
Despite the inability to meet the requirement, the NSE granted it a waiver to meet that requirement once its shares are officially listed on the Nigerian bourse.
Earlier today during a pre-listing media interactive session at the Nigerian Stock Exchange, Airtel Nigeria disclosed that it would be listing 39, 227,968 ordinary shares of 60 cents at N363 per share, preparatory to the main listing session on the NSE tomorrow. The total value of the listing is N1,354,208,995,952.
In the meantime, Airtel Shareholders in London can now trade their Shares on the NSE. The NSE’s Head of Trading Business, Jude Chiemeka, stated this today during the media briefing.
More details shortly…