Airtel Africa leads the gainer chart at the NGX Market

Airtel Africa performed impressively at the NGX Market yesterday, leading the gainers chart with 10 per cent or N215.60 per share to close at N2,372.50 from N2,156.90.

Airtel Africa’s overall market capitalisation was N70. 4trillion, gaining N1.09 trillion from the previous day N69.29 trillion the stock market closed for trading.

It posted the impressive performance against the market capitalisation of the Nigerian Exchange Limited (NGX), crossing the N70 trillion

The NGX ASI closed at 111,606.22 basis points, representing an increase of 1.6 per cent or 1,721.29 basis points from 109,884.93 basis points the stock market opened for trading.

The NGX ASI Month-to-Date and Year-to-Date  improved to +5.5per cent and +8.4per cent, respectively.

It was thus a day of double chamption, the regulator itself and Airtel Africa which had also announced a rewarding share buy back deal from Barclays Capital Securities Limited.

This follows the authorisation by its shareholders.

It had added:“Following the purchase of these ordinary shares, the remaining ordinary shares of $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.

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“This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.”

“Since the commencement of the first tranche of the $100milliion 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”, it had stated.