• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies

Airtel Africa buys back $25.8 million worth of shares in about 4 months

David Olujinmi by David Olujinmi
June 24, 2024
in Companies, Company News
Airtel Africa
Share on FacebookShare on TwitterShare on Linkedin

Airtel Africa has bought back $25.8 million worth of its shares since the start of its $100 million share buyback programme on March 1, 2024.

The share buyback programme, currently in its first phase, involves transactions conducted on the London Stock Exchange. So far, Airtel Africa has acquired 19,178,228 ordinary shares at an average price of 106.05 pence per share, amounting to £20.34 million ($25.76 million).

This phase, scheduled to conclude by August 31, 2024, aims to repurchase $50 million worth of shares.

RelatedStories

TotalEnergies

Why Total Energies’ Q1 2025 profit crashed: What investors should watch  

June 11, 2025
MTN Group, Airtel Africa sign agreements to share network infrastructure in Nigeria and Uganda 

Data boom: Airtel and MTN set for profit surge in 2025 

June 9, 2025

According to a corporate notice on the NGX, the latest purchase occurred on June 21, 2024, involving 572,700 ordinary shares bought at an average price of 118.64 pence.

About Airtel Africa’s share buyback programme

In 2019, Airtel Africa was initially listed on the London Stock Exchange, followed by a cross-border secondary listing on the Nigerian Stock Exchange. The company debuted on the Nigerian Exchange with an initial share price of N363 and a market capitalization of N1.364 trillion.

Since its listing, the company’s share price has surged by approximately 491.47%, reaching N2150 as of June 21, 2024. After five years on the exchange, during which it consistently posted profits, the group announced plans to return capital to its shareholders through a share buyback program.

Despite reporting a net loss for the 2023/2024 fiscal year, the share buyback was announced in February 2024. However, in the press release announcing the share buyback, it was noted,

“In light of the cash accretion at the holding company level, the current leverage, and the consistently strong operating cash generation, the Company is well positioned to undertake this share buy-back to enhance shareholder returns which is consistent with its existing capital allocation policy.”

How the shares are being bought

The company’s statement of equity for the fiscal year 2023/2024 reveals that the company has sufficient leverage for its share buyback program. This is because the group canceled all its deferred shares, which totaled 3,081,744,577 ordinary shares, each with a nominal value of $0.50.

As a result, the share capital of $1.541 billion from these canceled shares was transferred to the company’s distributable reserves.

As of June 24, 2024, the group has repurchased and canceled 18,605,528 ordinary shares with a nominal value of $0.50 each, reducing the total number of ordinary shares of Airtel Africa to 3,738,973,276. The nominal value of the canceled shares, approximately $9.6 million, will be transferred to a capital redemption reserve.

To carry out the first phase of the buyback, Airtel Africa entered into an agreement with Citigroup Global Markets Limited (Citi). Citi will buy up to $50 million worth of the company’s ordinary shares on the stock market. Then, the company will buy these shares back from Citi.

The group’s annual report indicates that it has incurred $41 million in transaction fees with Citigroup Global Markets Limited.


Follow us for Breaking News and Market Intelligence.
Tags: Airtel AfricaLondon Stock ExchangeNGX
David Olujinmi

David Olujinmi

David Olujinmi is an ambitious and dynamic individual with a strong educational background in engineering. While engineering laid the foundation for his analytical skills, David's true passion lies in the world of finance, particularly in the intricacies of capital markets, investment banking, and asset management.

Related Posts

TotalEnergies
Equities

Why Total Energies’ Q1 2025 profit crashed: What investors should watch  

June 11, 2025
MTN Group, Airtel Africa sign agreements to share network infrastructure in Nigeria and Uganda 
Financial Analysis

Data boom: Airtel and MTN set for profit surge in 2025 

June 9, 2025
NGX
Equities

NGX delivers Africa’s second-best return in May as investors pile in 

June 3, 2025
How Much Money Do You Need To Start Investing?
Digital Media

Nairametrics Awards, Market Movers & Bank Recap Secrets — All on Follow the Money With Ugodre

May 28, 2025
IHS Nigeria, Airtel Nigeria
Breaking News

Airtel tops daily advancers as ASI attains N70 trillion cap, shatters 110,000-barrier 

May 27, 2025
Airtel Africa
Equities

Airtel commences second tranche of $100 million share buy-back programme, reveals duration 

May 14, 2025
Next Post
Fidelity Bank

Why investors will buy Fidelity Bank's offers, by capital market stakeholders

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • CBN suspends dividends, bonuses, and foreign investments for banks under regulatory forbearance 
  • EFCC arraigns SunTrust Bank MD, Executive Director over alleged $12 million money laundering 
  • Cornerstone Insurance declares 27 kobo final dividend, reveals payment date and criteria 

Follow us on social media:

Recent News

CBN, forex

CBN suspends dividends, bonuses, and foreign investments for banks under regulatory forbearance 

June 14, 2025
EFCC: Achimugu’s case unrelated to Atiku, Sanwo-Olu, agency says

EFCC arraigns SunTrust Bank MD, Executive Director over alleged $12 million money laundering 

June 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics