Airtel Africa Plc. to List on NSE Tuesday

Airtel Africa Plc. To List on NSE  on Tuesday, July 9, 2019

The Nigerian Stock Exchange ( NSE) has said that the postponed Airtel Africa listing on its floor will now be executed on Tuesday, July 9th, 2019

The NSE, in a statement over the weekend annouced the new date for the listing.Earlier on Friday the Exchange had said: “The cross border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa Plc was postponed for not meeting certain criteria , from the earlier scheduled date of Friday, July 5, 2019.

According to it“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 NSE said it would provide further communication on the issue when all the conditions for the listing in its market had been met.

The NSE had on Thursday, said in a circular that it granted a waiver to the firm as it did not meet the minimum requirement of 300 shareholders as of the day the listing was approved by the National Council of the Exchange.

In contrast to a circular issued, the Chief Executive Officer, NSE, Mr Oscar Onyema, said there were processes yet to be followed and papers yet to be signed by the firm.

He said, “This is a highly-regulated matter; there are back-end processes that need to be followed by the company. As soon as all that is done, we will announce the new date of the listing; as of now, we have no date in mind.”