Airtel Africa tumbles after share placing

14th Apr 2021 07:54

(Sharecast News) - Airtel Africa shares tumbled on Wednesday after an unnamed institutional seller sold a 1.3% stake in the telecommunications company.
The seller placed 50m shares of Airtel at 75p each. The placing was conducted through an accelerated bookbuild and is expected to settle on 16 April.

JP Morgan Securities acted as sole bookrunner.

At 0940 BST, the shares were down 11.3% at 75.25p.