• Friday, February 23, 2024
businessday logo

BusinessDay

Updated: NSE to list Airtel Africa shares on Tuesday, July 9

Airtel launches TV app, Video-on-demand

The Nigerian Stock Exchange (NSE) says it is aware of various speculative reports which stated that the postponed Airtel Africa listing on NSE is scheduled for Monday, July 8, 2019. Rather, the NSE on Sunday said the official date for the listing is Tuesday, July 9th, 2019. The shares of the telco would have been listed on the Exchange last week but it didn’t happen because SEC didn’t approve it.

The planned listing of Airtel Africa on the Nigerian Stock Exchange (NSE) earlier scheduled for Friday was postponed due to uncompleted procedural processes, the Chief Executive Officer of the firm, Raghunath Mandava, said.

The firm is expected to list Tuesday once the processes are completed, according to the Airtel boss.

Mandava who was represented by the Managing Director and Chief Executive Officer of Airtel Nigeria, the Nigerian subsidiary of the firm, Segun Ogunsanya, made this known at the Fact Before the Listing held at the NSE on Friday.

Although the CEO did not give details of the “processes” which he said the company was involved in with the capital market regulators, he only assured they would be finalized by the close of business on Friday.

“We just have some procedural delay,” he said. “All the processes are in place, I am sure they will be completed today (Friday).”

On his part, Oscar Onyema, the CEO of the NSE, noted that the local bourse is a highly regulated market.

“We need to have all the pieces of information together, there are processes at the back end that need to happen before we can list and trade,”
Onyema said.

 

Iheanyi Nwachukwu and OLUWASEGUN OLAKOYENIKAN