Airtel Africa slumps after share placing

Tue, 15th Dec 2020 08:27

(Sharecast News) - Airtel Africa tumbled on Tuesday after an institutional investor sold 60 million shares in the telecommunications provider in a placing.
The shares, which represent a stake of around 1.6%, were sold at 80p each in a placing conducted through an accelerated bookbuild.

JP Morgan acted as sole bookrunner.

At 0840 GMT, the shares were down 20% at 73.80p.

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