Singapore Telecom International Buys Additional Shares In Airtel

A billboard for telecommunications company Airtel is seen in Libreville, Gabon's capital, January 16, 2017. REUTERS/Mike Hutchings

Airtel Africa PLC said on Thursday that Singapore Telecom International Pte Ltd acquired GBP31.7 million in shares on Wednesday, in respect of Airtel’s IPO on Friday last week.

Singapore Telecom purchased 39.7 million shares at a price of 80 pence per share, following which it now holds 208.1 million shares in Airtel Africa overall.

Last Friday, Airtel Africa listed on the London Stock Exchange through an IPO priced at 80 pence per share and comprising 744.0 million new shares.

Airtel Africa is the biggest London listing so far in 2019 with a market capitalisation of GBP2.67 billion, trumping second and third placed Network International Holdings and Trainline, which had market capitalisations of GBP2.20 billion and GBP1.68 billion respectively on admission.

Shares in the telecommunications and mobile money service provider were up 0.4% at 72.40 pence on Thursday

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