Airtel Africa tops gainers’ table after its share price recovers from an initial drop

by | Sep 13, 2019

The second telecommunications company to be listed on the Nigerian Stock Exchange (NSE), Airtel Africa today tops the gainers’ table after weeks of maintaining the same share price.

Airtel Africa — trading as AIRTELAFRI — listed on 9th, July 2019 with an initial public offering (IPO) price of ₦363 ($1) and after just a day’s trading closed at ₦399.30 ($1.10), 10% higher than its opening price.

However, the telecom giant saw its share price fall to ₦323 before it went up to ₦323.5 which it held for several weeks.

Showings signs of recovery on Friday, September 13th, Airtel closed at ₦350 ($0.97), 8.19% higher than their previous closing price of the past few weeks of ₦323.5.

Advertisement

AIrtel Africa NSE

SOURCE: NSE

Also, Airtel’s market capitalisation increased from ₦1.22 trillion to ₦1.3 trillion.

Screenshot 15

SOURCE: NSE

While Airtel’s stock price has been relatively static over the past couple of weeks, MTN Nigeria became the most valuable company on the stock market, overtaking Dangote Cement Plc.

The two telecommunications companies are the only listed ICT companies with a share price above ₦100, while others are trading below ₦5.

Recall that earlier this month, the wake of xenophobic reprisals in Nigeria saw MTN’s share price narrowly fluctuate on the stock market. However, it is currently maintaining relative stability. Its closing price today was ₦139, 0.5% higher than its opening price for the day — ₦138.5.

Emmanuel Paul
Emmanuel Paul

Writer and Narrator.  Tech, business and policies fills my head. Looking to chat? Catch up with me (@eruskkii) on Twitter or send a mail to emmanuel@techpoint.africa

Advertisement

On January 22, 2022, be part of the largest gathering of innovators, startup founders, thinkers, programmers, policymakers, and investors in West Africa. Register free.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Recent News

Uber’s bet on ‘Okada’

Uber’s bet on ‘Okada’

Today on #TechpointDigest, @nifemeah discusses Uber’s launching its motorbike hailing service, UberMoto, in Ibadan.

Subscribe to Techpoint Digest!

A daily 5-minute roundup of happenings in African and global tech, sent directly to your email inbox, between 5 a.m. and 7 a.m (WAT) every week day!

Please check your email to confirm your subscription.

Subscribe to Crypto Explorer

A monthly series featuring in-depth analysis on the cryptocurrency sector in Africa

Please check your email to confirm your subscription.

Subscribe to The Experts

A bi-weekly where tech career specialists take us on their journey from newbie to expert, and how they became successful in the industry.

Please check your email to confirm your subscription.

Subscribe to Founder's Table

A monthly series, where we catch up with founders in the startup ecosystem, learn about their failures, successes and a few tricks of the trade

Please check your email to confirm your subscription.

Copy link
Powered by Social Snap