Airtel Nigeria’s IPO exclusively for high net worth investors | The Guardian Nigeria News - Nigeria and World News

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“Application has been made to the Nigerian Securities and Exchange Commission for the registration of all of the ordinary shares to be issued in connection with the offer and to the council of the NSE, to be listed and admitted to the official trading ...

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The company, in its offer prospectus obtained by The Guardian at the weekend, said the offer price for Nigerian issuance would be pegged between N363 and N454 per share.Book building is a price discovery mechanism that is used in the stock markets, while pricing securities for the first time, by providing the investors with a price range and then asking them to bid.

According to the company, the proceeds from the issue of the ordinary shares would be used to the deleveraging the company’s balance sheet, while the company is expected to be admitted on the premium-listing segment of the main board of the London Stock Exchange at the end of the transaction. Meanwhile, Nigerian shareholders have applauded the proposed listing on the NSE, but however, urged parties to the offer and the regulators to ensure a transparent process.They urged other multinationals operating in Nigeria to list shares on the exchange to deepen the market and stimulate activities in the primary market segment of the NSE.

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