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Share Price: 114.00

Bid: 113.40

Ask: 113.60

Change: 1.20 (1.06%)

Spread: 0.20 (0.176%)

Open: 114.70

High: 116.40

Low: 113.50

Prev. Close: 112.80

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Airtel Africa falls as shareholder disposes of GBP38 million in shares

Wed, 14th Apr 2021 08:53

(Alliance News) - An unnamed shareholder in Airtel Africa PLC on Wednesday sold GBP37.5 million worth of shares in the company through a placing, for which JP Morgan Cazenove acted as bookrunner.

Shares in the telecommunication services provider were down 13% to 74.00p in London, making it the worst performer in the FTSE 250.

The unidentified institutional investor sold 50 million shares at a price of 75 pence per share, reflecting a 1.3% stake in the company. The 75p per share price is a 12% discount to Tuesday's closing price of 84.80p.

Airtel Africa did not receive any proceeds from the placing

By Ivan Edwards; ivanedwards@alliancenews.com

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