25 C
Lagos
Friday, January 24, 2020
Home News Africa NSE postpones Airtel Africa listing

NSE postpones Airtel Africa listing

The Nigerian Stock Exchange (NSE) on Friday postponed the planned cross border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa.

The Exchange, in a mail, said that the postponement was necessitated by the need to ensure that the company met all the post NSE approval pre-requisites for listing on NSE.

“NSE will provide further communication on this issue when all the conditions for the listing in its market have been met,” NSE said.

Airtel Africa listing was earlier scheduled to hold on July 5, with the listing of 3.76bn shares at N363 per share, NAN reports.

It was also gathered that the company has not completed documentation with the Securities and Exchange Commission (SEC) for the commission to approve its application for listing.

A source close to the transaction revealed that the company “has not completed its documentation.”

“They are still running helter-skelter to complete their documentation.

“Until that is done, the SEC cannot approve. So, the ball is in their court,” the source said.

On June 18, Airtel Africa officially filed an application with the SEC for a listing of its shares on the NSE.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

OAU Staff Unions Speak On Fresh S*x-For-Mark Scandal Rocking The Institution [AUDIO]

According to a report by Premium Times, the two academic unions in Obafemi Awolowo University (OAU), Ile-Ife, have disowned Bisi Olaleye, a...

The deadly Coronavirus – All you need to know + how to protect yourself

What is CoronaVirus? According to the World Health Organization, coronaviruses are a family of viruses that cause illness ranging...

If we expose those in Buhari’s govt, they’ll not only go to jail, they’ll go to hell – Obasanjo

Former President Olusegun Obasanjo has said that most of the officials in the Buhari-led government will not only go to jail...

Reverse Imo state judgement or face the wrath of God – Anglican bishops warn Supreme court judges

Bishops of the Anglican Church in Nigeria have rejected the Tuesday January 14th Supreme Court’s judgment that nullified the election of Emeka...

Recent Comments

Onuegbu Chuks Theophilus on Mikel Obi quits Super Eagles
Thomas H. Anderson on Roman Goddess_3
Oladimeji Emmanuel on Obama sends investors to Buhari