Nigeria’s top provider of online telecom services, Airtel Africa, has seen its market value rise in just a day. The telecom company traded 1,009 million shares, instantly bringing the company’s value from N665 billion to N8.08 trillion.
The upsurge in the company’s value is excellent, as it saw a significant effect and increase from the initial N7.41 trillion, which was the company’s value before the recent rise in market value. This means that the company made a boost of up to 8.97%, which is a far cry from the earlier value. The telecom company’s rise in market value led to an automatic increase in the ‘NGX’s All-Share Index,’ which immensely helped the share Index from continually spiraling down from the first day of this week. This means that the share Index of the company greatly appreciated from the other days in which it was going down the drain drastically.
The recent appreciation in Airtel Africa’s value is undoubtedly the biggest it has ever appreciated in a day since over two months ago in February. It saw it understand up to 10%, from February before it spiraled down since the beginning of the month.
Airtel Africa is in the process of getting its share from the London Stock Exchange, which means the telecom company is in line to purchase a whopping $50 million of its initial shares within six months. Once the completion of the first phase is maximized, it will carry out a similar buying of shares.
Airtel Africa is on the verge of completing significant share trading to ensure its competitiveness and effectiveness in maximizing profits in the telecom world.
