The Nigerian Stock Exchange says it has granted Airtel a listing waiver. The telecom operator failed to meet the minimum requirement of at least 300 shareholders required for any company to carry out an Initial Public Offering (IPO) on the stock exchange. Airtel was able to pull only 130 shareholders.
The NSE says it believes Aitrtel will ultimately meet the stipulated requirements, and so granted the waiver. The stocks will be listed today 5th of July, 2019.
Airtel Africa is a subsidiary of Bharti Airtel, a global telecommunications services company based in Delhi, India, and with operations in 18 countries across South Asia and Africa.