Airtel, Nigeria’s second largest telecoms operator is expanding its global financial footprint as Airtel Africa plc is now joining the FTSE 100 on the London Stock Exchange.
The FTSE 100 is one of the most important benchmarks for global business and includes the top 100 companies listed on the London Stock Exchange with the highest market capitalisation.
With this move, Airtel has joined rival MTN in getting listed in international stock exchanges.
The Group Managing Director of Airtel Africa, Segun Ogunsanya said, “this is a major achievement for Airtel Africa. We floated on the London Stock Exchange in June 2019 and have since demonstrated significant growth in our customer base and financial KPIs. This achievement has been on the back of all the hard work and success achieved by everyone at Airtel Africa.
We look forward to growing the Company further as we continue to sustainably bridge the digital divide, expand financial inclusion and meet the evolving needs of our customers.”
MTN sells down shares in Nigeria.
MTN was admitted into the Nigerian stock at a share price of N90 per ordinary share. In November last year, MTN Group confirmed that the Securities and Exchange Commission (SEC) has approved an offer for the sale of up to 575 million ordinary shares in MTN Nigeria.
This is the first step in a series of offers over the near to medium-term for MTN Group to sell-down a total of up to 14% shareholding in MTN Nigeria.
MTN Group President and Chief Executive Officer Ralph Mupita, said: “this should result in greater ownership by Nigerian institutional and retail shareholders, and increased liquidity of the share on the Nigerian Stock Exchange.”
MTN’s share price currently stands at N190. It had a revenue of N414.9 billion the last year 2021.
GLO and 9 Mobile, the other major telcos in Nigeria have both previously indicated their plans to be listed on the Nigerian Stock Exchange. This is yet to take place.
What Nigerians are saying about Telcos.
Nigerian consumers are looking at all the latest international moves by Airtel and MTN with great interest.
For now, you can hear Nigerian telecom users chanting: “all we are saying, give us cheaper and better services.”