Airtel Africa Plc gains N293 billion in value, as share price appreciates by 10.00%

Airtel Africa Plc recorded an impressive gain of 10.00% at the end of today’s trading session. This is attributable to the buy-interest in the shares of the company which induced a gain of N293 billion in market capitalization at the close of trading activities on the stock exchange.

The shares of the telco advanced from N780.00 per share at the start of trading today to N858.00 per share- the highest price traded at the close of the market, which represents an increase of 10.00% which in monetary terms is N78.00.

The buy-interests witnessed in the shares of Airtel Africa Plc positively influenced the company’s market capitalization from N2.93 trillion to N3.22 trillion at the end of today’s trading activities, taking the appreciation to N293 billion.

Share performance history

The shares of Airtel Africa Plc have gained 0.73% from year-to-date, starting the year at N851.80 and currently trading at N858.00. However, the shares of the company has returned about 90.16% gains for investors who bought them at their 52-week low trading price of N451.2 per share.

During today’s trading hours 199,774 ordinary shares of Airtel Africa Plc worth about N171.41 million, were exchanged in 51 executed deals.

In comparison, the shares of MTN Nigeria Plc also appreciated by 9.62% to close at N192.50 at the end of today’s trading session.

What you should know

Last week, Airtel Africa and MTN Nigeria secured approval-in-principle to launch their payment service banks in Nigeria, SMARTCASH and MoMo Payment Service Bank Limited, respectively.

At the end of today’s trading activities, the NGX All-Share Index and Market capitalization appreciated by 2.93% from the previous trading day to close at 43,246.87 index points and N22.57 trillion respectively.