AIRTEL AFRICA BALANCES AT N8trn DESPITE UNUSUAL TRADE VOLUME
Despite substantial trades in its stock, Airtel Africa Plc’s market valuation remained steady. The share price stayed at N2,150, unchanged by the 1,128,570 shares traded on Tuesday. The local exchange valued Airtel Africa's 3.758 billion outstanding shares at N8.080 trillion.
Following the purchase of minority shareholdings in Nigeria, there has been a significant decrease in volatility. It's now rare to see more than 1.2 million shares traded daily, marking a change from previous activity.
Despite fluctuations in the Nigerian market, Airtel Africa's share price is 2.3% below its 52-week high on the Nigerian Exchange. The stock (ticker: AIRTELAFRI) was the most traded in value terms, accounting for 31.88% of the total trade value.
Airtel also disclosed that as of May 31, 2024, it had 3,741,411,872 ordinary shares admitted to trading, each carrying one vote at general meetings. This total reflects recent share buybacks that are yet to be canceled.
Despite substantial trades in its stock, Airtel Africa Plc’s market valuation remained steady. The share price stayed at N2,150, unchanged by the 1,128,570 shares traded on Tuesday. The local exchange valued Airtel Africa's 3.758 billion outstanding shares at N8.080 trillion.
Following the purchase of minority shareholdings in Nigeria, there has been a significant decrease in volatility. It's now rare to see more than 1.2 million shares traded daily, marking a change from previous activity.
Despite fluctuations in the Nigerian market, Airtel Africa's share price is 2.3% below its 52-week high on the Nigerian Exchange. The stock (ticker: AIRTELAFRI) was the most traded in value terms, accounting for 31.88% of the total trade value.
Airtel also disclosed that as of May 31, 2024, it had 3,741,411,872 ordinary shares admitted to trading, each carrying one vote at general meetings. This total reflects recent share buybacks that are yet to be canceled.