Airtel Africa has announced the successful purchase of its own ordinary shares pursuant to its share buy-back programme authorized by shareholders on 19 August 2024. The company purchased 744,114 shares from Citigroup Global Markets Limited on September 20, 2024.
According to the company the minimum purchase price per share(GBp) was 117.60p compared to the maximum purchase price per share(GBp) of 119.50p with a total volume weighted average price of 118.61p.
This share repurchase initiative, authorized by shareholders on August 19, 2024, underscores Airtel Africa’s focus on delivering value to shareholders and optimizing its financial framework. The repurchased shares will be subsequently cancelled, resulting in a decrease in the company’s outstanding share count.
Cumulatively, from the inception of the share buy-back programme announced on 1 March 2024, Airtel Africa has repurchased 58,896,219 ordinary shares at a volume-weighted average price of GBp 112.11 per share.
