Airtel Africa PLC., has repurchased 15,240,082 of its ordinary shares as part of its ongoing share buyback programme, which commenced on December 23, 2024.
The telecommunications giant executed the buyback at an average price of 118.8 Great Britain Pence (GBp) per share, as it focuses on returning value to shareholders.
The disclosure was made in a Notification of Transaction published on the Nigerian Stock Exchange (NGX) website. According to the statement:
“Airtel Africa announces today it has purchased the following number of its ordinary shares of USD 0.50 each from Barclays Capital Securities Limited pursuant to its authority granted by its shareholder as part of its share buy-back programme, details of which were announced on 23 December, 2024.”
The company further confirmed that the repurchased shares will be cancelled, effectively reducing the total number of outstanding shares in circulation.
Airtel Africa executed the buyback at a weighted average price of 118.8187 GBp per share, with the highest price paid per share reaching 137.00 GBp, while the lowest stood at 135.80 GBp.
The share repurchase is part of Airtel Africa’s $100 million buyback programme, which was initially announced in December 2024. The initiative aims to optimise the company’s capital structure by reducing its share count, thereby enhancing shareholder value.
This is Airtel Africa’s second share repurchase programme, reiterating the company’s confidence in its financial standing and growth strategy.
Share buybacks are commonly used by publicly traded firms to boost shareholder returns, enhance earnings per share (EPS), and signal market confidence.
Airtel Africa, one of the leading telecom operators across multiple African markets, is scaling through a dynamic economic space while maintaining a strong balance sheet.
The company’s stock has experienced fluctuations in recent months, making the buyback a commendable move to stabilise and ultimately increase its market valuation.
