Airtel Africa Soars to Historic High in Fresh Rally
Telecommunication company Airtel Africa Plc soared to a new high in the equities market on a fresh rally that lifted its market value above N8.9 trillion on Tuesday.
According to data obtained from the Nigerian Exchange, Airtel Africa’s share price rose by 10% to N2372.50, breaching its old 52-week high to its historical positions in the local bourse.
In rare price movement in the equities market, the telecom company climbed as 104,176 shares valued at N247.157 million exchanged hands in the market.
The price surge lifted the market value of Airtel Africa’s 3,758,151,504 shares outstanding to N8.916 trillion, details from the Nigerian Bourse revealed.
At an average price of 179.78 pence, Airtel Africa announces today it has purchased 100,000 units of its ordinary shares of USD 0.50 each from Barclays Capital Securities Limited pursuant to the authority granted by its shareholders as part of its share buy-back programme.
The company said following the purchase of these ordinary shares, the remaining ordinary shares of USD 0.50 each in issue will be 3,669,442,413, including 7,489,044 treasury shares. Accordingly, the total number of voting rights in the company is 3,661,953,369.
Airtel said since the commencement of the first tranche of the $100 million share buy-back programme announced on 23 December 2024, the company has purchased 27,363,335 ordinary shares in aggregate at a volume-weighted average price of 136.7128 GBp per ordinary share. #Airtel Africa Soars to Historic High in Fresh Rally#
Tinubu Seeks Senate Approval of 2025-2026 External Borrowing Plan of $21.5bn
