Africa’s second largest telecommunications firm, Airtel will next month list on the Nigerian Stock Exchange after the on-going Initial public offering and listing on the London Stock Exchange.
Airtel Africa Plc is currently embarking on a global share offering to raise $750 million from United Kingdom and Nigerian markets.
Airtel Africa Plc is making the IPO through a book building process to determine the eventual price and volume of shares to be sold to investors.
Under the book building process, Airtel Africa Plc will list between 501.125 million shares and 716.406 million shares, at price between N363 and N454 per share.
The shares are being offered to high net worth and institutional investors.
The company is expected to announce the final offer price on June 28, allot the shares to investors on June 29 and list get listed on the NSE on July 4, 2019.
The NSE on May 16 listed 20.4 billion shares of MTN Nigeria at N90 per share, thereby adding about N1.8 trillion to the market capitalisation of the exchange.