Airtel Africa Plc has informed Nigerian investors about the sale of ordinary shares by its CEO, Olusegun Ogunsanya. The transaction took place on August 4 at the London Stock Exchange, involving 666,174.760 units at £1.137 per share, totaling £757,440.70.
Airtel CEO sells shares worth £757,440 for property purchase
The Nigerian investing public has been duly communicated by Airtel Africa Plc about the sale of ordinary shares by its CEO, Olusegun Ogunsanya of a transaction in the Company’s ordinary shares on August 4 at the London Stock Exchange (LSE) of 666,174 .760 units at £1.137 per share which totals £757, 440.70.
The CEO sold the shares to fund a property purchase and now holds 4,325,282 Ordinary Shares in the company.
“This sale of Ordinary Shares is to be used to fund a property purchase by Ogunsanya. Following this transaction Mr Ogunsanya holds 4,325,282 Ordinary Shares in Airtel Africa,” according to the provider of telecommunications and mobile money services.
Meanwhile, Nigeria’s equities market defied the Central Bank of Nigeria’s 2022 financial report, closing the week with a 0.18 percent gain and pushing the week’s return higher by 0.20 percent.
The Central Bank’s financial statements also revealed a debt of $7.5 billion to American banks.
The Nigerian Exchange Limited (NGX) All-Share Index and equities market capitalization increased to 65,325.37 points and N35.572 trillion, respectively, at the end of the trading week.
Airtel Africa reported its Q1 financial results showing the company recorded a foreign exchange loss of $471 million in the quarter ending on June 30.
The unification of the exchange rate by the Central Bank which pushed the exchange rate from N460/$ in June to N790/$ was the reason for the loss.
The company’s revenue increased by 9% during the period to $1.37 billion from the $1.25 billion it recorded in the same period for 2022.
