Airtel Africa Enters $20.3m Shares Repurchase Deal with Barclays
Telecom company Airtel Africa Plc has disclosed it has entered revised arrangements with Barclays to facilitate the purchase of the remaining amount of up to $20.3 million. The share buyback programme is now anticipated to end on or before 31 March 2026.
According to its official statement, Airtel Africa Plc said it has returned $34.7 million to shareholders through its share buyback programme.
In a notice, the telecom company told the Nigerian Exchange that the amount has been returned to its shareholders through 14.2 million repurchased.
Airtel Africa had earlier announced that it has entered into arrangements with Barclays Capital Securities Limited to facilitate its ongoing share buy-back programme including during its forthcoming closed period.
On 14 May 2025, the Company announced the commencement of the second tranche of its share buy-back programme for a maximum amount of up to $55 million which was anticipated to end on or before 19 November 2025.
“To date the Company has returned $34.7 million to shareholders through the purchase of 14.2m shares as part of the second tranche”, it disclosed.
Airtel Africa said its revised arrangements with Barclays are to facilitate the purchase of the remaining amount of up to $20.3 million. The share buy-back programme is now anticipated to end on or before 31 March 2026, the telecom company said.
It explained that the revised arrangements will come into effect should it not be possible to complete the second tranche under the existing arrangement.
“The revised arrangements are for a discretionary programme and include irrevocable, non-discretionary instructions to Barclays to continue to operate the buy-back programme during closed periods. “Barclays will therefore operate the buyback programme autonomously during those periods. Barclays will continue to act as riskless principal.
“The sole purpose of the buy-back programme is to reduce the capital of the Company. As such, all shares purchased under the buy-back programme will be cancelled”.
Airtel plans to cancel ordinary shares purchase under the buy-back programme will be carried out in accordance with the Company’s general authority to repurchase ordinary shares granted by its shareholders from time to time, Financial Conduct Authority’s UK Listing Rules 9.6 and within the parameters of the Market Abuse Regulation (EU) and the Commission Delegated Regulation. #Investors Take Profit on Bonds as Real Interest Rate Hits 7.38%
