The Nigerian Stock Exchange (NSE) on Friday postponed the planned cross border secondary listing of 3,758,151,504 ordinary shares of Airtel Africa.
The Exchange, in a mail, said that the postponement was necessitated by the need to ensure that the company met all 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
Airtel Africa listing was earlier scheduled to hold on July 5, with the listing of 3.76bn shares at N363 per share.
The company has not completed documentation with the Securities and Exchange Commission (SEC) for the commission to approve its application for listing.
“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.