The Nigerian Stock Exchange (NSE) has postponed the planned cross border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa.
Concise News understands that the NSE noted this on Friday in a statement where it said the development was to ensure the company fill the post NSE approval pre-requisites for listing on NSE.
“NSE will provide further communication on this issue when all the conditions for the listing in its market have been met,” NSE said.
The Airtel Africa listing was scheduled to hold on Friday, July 5 with the listing of 3.76bn shares at N363 per share.
However, the company has not finished documentation with the Securities and Exchange Commission (SEC) for the commission to approve its application for listing.
According to a source close to the transaction who spoke with NAN, the company “has not completed its documentation.
“They are still running helter-skelter to complete their documentation.
“Until that is done, the SEC cannot approve. So, the ball is in their court,” the source said.
On June 18, Airtel Africa applied to the SEC for the listing of its shares on the NSE.