The listing of Airtel Africa on the Nigerian Stock Exchange (NSE) on Tuesday spurred the market to appreciate by 0.10 per cent and added N1.38 trillion to its capitalization.
Airtel Africa finally listed 3,758,151,504 ordinary shares at an offering price of N363 per ordinary share on Tuesday after postponing the listing from last Friday.
Investors traded a total of 100,110 Airtel Africa’s shares valued at 39,973,923.00 were traded in 7 deals.
The All Share Index (ASI) increased by 30.15 absolute points, representing a growth of 0.10 per cent to close at 29,318.02 points, while the Market Capitalization gained N1.38 trillion, representing a growth of 10.68 per cent and closed at N14.29 trillion.
Cadbury Nigeria Plc appreciated 4.37 per cent to close at N11.95 to emerge the top gainer of the nine stocks that advanced.
On the other hand, GlaxoSmithKline shed -9.78 per to close at N8.30 to top the 20 losers chart.
Commenting on the listing of Airtel Africa, Oscar Onyema, Chief Executive Officer of the Nigerian Stock Exchange said,
“Listing on the Exchange reaffirms Airtel Africa’s long-term commitment to expanding opportunities and providing everyday services to Africans and Nigerians in particular. This listing serves to deepen the telecoms and technology sector for investors and provides an opportunity for a wider group of Nigerians to be part of the African telecoms growth story.
“Today’s listing is a promising development in Africa with Airtel Africa being the second company to have its ordinary shares listed on both the London Stock Exchange and The Nigerian Stock Exchange. This gives credence to the successful partnership between the two exchanges. I encourage similarly situated companies to explore the different opportunities for raising capital on the Exchange’s platform.”