Dual-listed telecommunications giant, Airtel Africa Plc, has crossed a major milestone in its capital restructuring drive, repurchasing a cumulative total of 12,864,569 ordinary shares since the launch of its share buyback programme in May this year.
In a corporate disclosure sent to the Nigerian Exchange Limited on Tuesday, the telecommunications firm confirmed that the multi-million-unit buyback was executed at a volume-weighted average price of 339.40 pence (GBp) per ordinary share.
The aggressive capital reduction strategy is a standard corporate finance practice aimed at enhancing shareholder value.
By purchasing its own shares from the open market and subsequently cancelling them, Airtel Africa structurally reduces its total outstanding share float. This process typically boosts key financial metrics, such as Earnings Per Share, making the stock more attractive to both local and international investors on the Nigerian Exchange and the London Stock Exchange, where the company maintains a dual listing.
In its latest weekly transaction window spanning 6 to 10 July 2026, the company acquired an additional 1,855,779 ordinary shares, valued at a nominal price of 0.50 USD per share.
