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, has said.
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).”
The firm is expected to list on Monday once the processes are completed, according to the Airtel boss.
On his part, Oscar Onyema, the CEO of the NSE, noted that the local bourse is a highly regulated market and it would notify the investing public on the new date Airtel Africa would list at the Exchange.
“We would advise appropriately when the listing will happen,” Onyema said. “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.”
