Airtel africa targets shareholder value with $100m share buyback plan

Airtel Africa, a leading provider of telecommunications and mobile money services, has unveiled plans to enhance shareholder value through a $100 million share buyback programme. This marks the company’s second initiative of this kind, reflecting its robust financial health and strategic capital management.

The telecommunications giant, in a corporate filing on the Nigerian Exchange Limited on Monday, emphasized that the buyback underscores the board’s confidence in the firm’s growth trajectory and the consistent cash flow at the holding company level.

The programme, aligned with Airtel Africa’s capital allocation policy, will unfold in two phases. The initial tranche, capped at $50 millio, begins immediately and is scheduled to conclude by April 24, 2025. The company has enlisted Barclays Capital Securities Limited to execute on-market purchases of its ordinary shares, which will subsequently be repurchased and cancelled by Airtel Africa. Barclays, acting as a riskless principal, will make independent decisions throughout the process.

The primary objective of the buyback is to reduce the company’s capital base, ensuring a direct benefit to shareholders through enhanced earnings per share and a stronger stock value.

“Airtel Africa announces the commencement of a second share buyback programme that will return up to $100 million to shareholders. The share buyback reflects the Board’s confidence in the Company’s continued growth potential, the strength of its balance sheet, and the consistent cash accretion at the holding company level.

“The buyback remains in line with the company’s existing capital allocation policy.”

————

For Advertisement, Event Coverage/MC, Public Relations, Story/Article Publication, and other Media Services, kindly send an email to: cablenews24.com@gmail.com.

Or Kindly call: 08023535955

To stay updated with the latest news stories, kindly visit cablenews24.com… published by AAAANDREL GLOBAL SERVICES.