Airtel Africa slumps after share placing
Airtel Africa
105.80p
16:45 28/03/24
0.95%
1.00p
Airtel Africa tumbled on Tuesday after an institutional investor sold 60 million shares in the telecommunications provider in a placing.
Fixed Line Telecommunications
1,857.38
17:14 28/03/24
1.18%
21.66
FTSE 250
19,884.73
17:14 28/03/24
n/a
n/a
FTSE 350
4,383.21
17:14 28/03/24
n/a
n/a
FTSE All-Share
4,338.05
16:50 28/03/24
n/a
n/a
The shares, which represent a stake of around 1.6%, were sold at 80p each in a placing conducted through an accelerated bookbuild.
JP Morgan acted as sole bookrunner.
At 0840 GMT, the shares were down 20% at 73.80p.