The delayed Cross-Border secondary listing of Airtel Africa plc on the Nigeria Stock Exchange (NSE), which was schedule to hold today-July 5th 2019, will now happen on Monday (8th July, 2019) according to Reuters.
Reuters reports that the delay was due to the process involved in allotting the shares to prospective investors.
Airtel Africa Plc is expected to offer 3.758bn ordinary shares for sale.
The NSE had earlier today released a statement that it has postponed the scheduled listing stating.
“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. However, the Facts Before the Listing event will hold as planned at 11.00 a.m. on Friday, July 5, 2019”, the statement read.
The telecommunication company plans to list at least 500 million shares on the Nigeria Stock Exchange with an initial offer of N363 per unit, becoming the second after MTN Nigeria listed 20 billion ordinary shares at N90 per unit.
