Airtel Africa Flatlined in Nigerian Market at N8.1 Trillion
Airtel Africa is worth N8.10 trillion in the equities market, according to the latest data obtained from the Nigerian Exchange (NGX). Its share price and, by extension, market value of the telco company have flatlined since last year.
The telecom company shares trading activities in the local bourse tempered after share buyback from minority or non-controlling interest shareholders in Nigeria, an approach to stem price volatility.
With thin transactions of as low as 50 units in the local bourse, Airtel Africa share price has been static despite positive expectations brought about following regulatory approval of a tariff hike for the telecom operators.
Nothing is shaking Airtel Africa price movement, which printed at N2156.90 per share in the equities segment of the Nigerian Exchange. Following its share buyback program, Airtel Africa stock has been concentrated in the hands of the few.
Hence, daily price list records have continued to show thin transactions. At the current market price, Airtel Africa’s total market value stopped at N8.105 billion, making it its most valuable listed stock on the Nigerian Exchange.
The telecom company told the Nigerian Exchange that since the commencement of the London Stock Exchange share buy-back programme announced on 23 December 2024, it has purchased 14,785,032 ordinary shares in aggregate, at a volume-weighted average price of GBP 118.3815 per ordinary share Oyo Signs Contract Agreement on 68km Rural Road Projects
