The Nigerian Stock Exchange (NSE) has officially disclosed that the postponed Airtel Africa listing on its platform has been rescheduled for Tuesday, July 9th, 2019.
Ahead of its secondary listing on the NSE, the telecom firm, at the weekend, unveiled plans to distribute 80 percent of its free cash flow as dividend to shareholders.
Airtel Africa disclosed this at the facts behind the listing event held at the Nigerian Stock Exchange in Lagos.
The telecom company had earlier announced the postponement of the much-expected shares listing slated for Friday, July 5, 2019.
It was expected to conduct cross-border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa Plc on the NSE after its London Stock Exchange (LSE), primarily listing at an offer price of 80 pence per ordinary share.
A secondary listing is when securities, already listed on a primary exchange, are subsequently listed on other securities exchanges, with the Issuer not subjected to the full requirements applicable to listing on the other securities exchange(s) at which it seeks a secondary listing.
The telecoms giant said the postponed listing was to ensure that the company meets all the post NSE approval pre-requisites for listing on exchange.
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