Authorities of the Nigerian Stock Exchange have announced that the Shares of Airtel Africa Plc will be listed the trading floor of the Exchange Tuesday July 9th 2019.
In a statement issued on Sunday, the NSE said, “The Exchange is aware of various media reports stating that the postponed Airtel Africa listing on NSE is scheduled for Monday, July 8.
“Please be informed that the official date for the listing is Tuesday, July 9.”
The listing of Airtel’s shares had been postponed by the NSE had on Friday barely two hours to the planned time saying there were processes yet to be followed by the firm.
The NSE, in a statement on Friday, said, “The cross-border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa Plc has been postponed from the scheduled date of Friday, July 5, 2019.
“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 held as planned at 11.00 a.m. on Friday.
On Thursday, the NSE 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.
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.”
Analysts say Airtel’s addition of approximately N1.36tn in market capitalisation to the NSE would give a boost to the market cap of over N14tn, as well as effectively create a new major sector represented on the Exchange, the telecommunications sector.
Meanwhile, a total turnover of 1.025 billion shares worth N9.911 billion in 19,375 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.771 billion shares valued at N28.036 billion traded last week in 18,660 deals.
The Financial Services industry (measured by volume) led the activity chart with 660.844 million shares valued at N5.735 billion traded in 11,296 deals; thus contributing 64.49% and 57.87% to the total equity turnover volume and value respectively.
The Healthcare Industry followed with 95.150 million shares worth N61.699 million in 174 deals. The third place was Industrial Goods Industry with a turnover of 89.419 million shares worth N1.416 billion in 1,723 deals.
Trading in the Top Three Equities namely, United Bank For Africa Plc, Zenith Bank Plc and FBN Holdings Plc (measured by volume) accounted for 297.889 million shares worth N3.095 billion in 3,998 deals, contributing 29.07% and 31.23% to the total equity turnover volume and value respectively.
The NSE All-Share Index and Market Capitalization depreciated by 2.32% and 2.30% respectively to close the week at 29,270.95 and N12.902 trillion respectively. Similarly, all other indices finished lower with the exception of the NSE Industrial Goods which appreciated by 3.28%,
Twenty-one (21) equities appreciated in price during the week, lower than Thirty-six (36) in the previous week. Forty-four (44) equities depreciated in price, higher than Thirty-two (32) equities in the previous week, while one hundred and three (103) equities remained unchanged, higher than one hundred (100) equities recorded in the preceding week.