Airtel Africa plc (‘Airtel Africa’ or ‘the Company’) today announced the successful completion of another phase of its share buy-back program, aimed at optimizing its capital structure and enhancing shareholder value. Under the authority granted by its shareholders and detailed in the share buy-back program initiated on 1 March 2024, Airtel Africa according to the statement excerpted from the Nigeria Exchange NGX corporate disclosure data has repurchased 367,550 of its ordinary shares on the London Stock Exchange from Citigroup Global Markets Limited.
Key Transaction Details:
- Date of Purchase: 12 July 2024
- Aggregate Number of Shares Purchased: 367,550
- Lowest Price Paid per Share: 119.00p
- Highest Price Paid per Share: 121.20p
- Volume Weighted Average Price Paid: 119.58p
The Company intends to cancel these repurchased ordinary shares, reflecting its commitment to efficient capital management and returning value to shareholders.
Breakdown by Trading Venues:
- London Stock Exchange:
- Volume Weighted Average Price: 119.58p
- Aggregated Volume: 367,550
- Lowest Price per Share: 119.00p
- Highest Price per Share: 121.20p
Airtel Africa further disclosed cumulative statistics since the launch of the share buy-back program, revealing the acquisition of 26,558,729 ordinary shares at an average price of 109.56p per share. This strategic initiative underscores the Company’s proactive approach to capital deployment and financial stewardship.