By Joy Baba-Yesufu
Airtel Africa Plc has announced its purchase of N199bn (£105m) worth of shares from Citigroup Global Markets Limited in a share buy-back programme.
The telco giant made this known in a statement filed at the stock exchange on Tuesday.
According to the company, the move is under the authority granted by its shareholders as part of its share buy-back programme, details of which were announced on March 1, 2024.
It added that an aggregate of 977,699 ordinary shares of USD 0.50 was on August 5, 2024, from the London Stock Exchange and BATS Chi-X Europe Stock Exchange.
The statement read in part, “The lowest price paid per share is £105.60, while the highest price paid per share is £109.10, bringing the volume weighted average price paid to £107.71.
“Since the commencement of the share buy-back programme announced on March 1, 2024, the company has purchased 34,490,112 ordinary shares in aggregate, at a volume-weighted average price of £110.37 per ordinary share.”
Airtel Africa further revealed that the ordinary shares purchased in its share buy-back programme will be cancelled.
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