By Alex Ekemenah
The Chief Executive Officer of the Nigerian Stock Exchange, Mr. Oscar Onyema has said that the expected listing of Airtel Africa Plc on the board of Nigerian Stock Exchange will help to actualize its strategic vision.
He made this disclosure while welcoming the Management Team of Airtel Africa to its Facts-Behind-the-Figures presentation at the Nigerian Stock Exchange at the weekend.
“Airtel Africa’s listing on the NSE will not only showcase the company as an established player in the African Telecommunication Industry, but will enable the firm to actualize its strategic vision “To enrich the lives of customers”.
“This listing is a
result of many months of hard work by all parties to the transaction and will
N1.36Tn to the market capitalization of The Exchange, further
deepening the Nigerian Capital Market.
“It will also increase the visibility of Airtel Africa whilst differentiating its brand as a major player in the Telecommunication sector”, Onyema said.
Airtel Africa is raising the sum of $750m via Initial Public Offering (IPO) by way of book building and its secondary listing on the Nigerian Stock Exchange.
Airtel Africa has already listed on the London Stock Exchange. “As you are aware, the shares were listed at an offer price of 80 pence per ordinary share on the main market of the London Stock Exchange and is expected to be listed at 363 Naira per ordinary share on the Main Board of the Nigerian Stock Exchange, making Airtel Africa the first telecom company to simultaneously list on both Exchanges.
“This 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 and we
encourage similarly situated companies to explore the different opportunities
for raising capital on the Exchange’s platform. Furthermore, it shows the
confidence Airtel Africa has in our platform, which has a total market
N25.20Tn across various asset classes”, Onyema
Onyema said the Nigerian Stock Exchange will continue to support the telecom industry and the real sector by promoting efficient capital formation and allocation, enabling industries to raise long-term funds for growth & expansion of their business to reduce unemployment and sustain Nigeria’s economic growth and development.
“These are evident in the increasing number of capital market instruments traded on the exchange and the tremendous increase in the size of market capitalization.
“The NSE is positioned as a premiere listing destination for African corporates, governments and international issuers looking to access the capital market of the largest economy in Africa.
“We encourage other companies operating in the Telecommunication Industry to join the trend by listing their shares on the NSE.
Airtel Africa is a leading provider of telecommunications and mobile money services, with presence in 14 countries spread across East, Central and West Africa (including Nigeria).
“Listing on the Exchange reaffirms its long-term commitment to expanding opportunities for Nigerians in addition to providing everyday services to them. 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”, Onyema added.