Business
Airtel’s valuation drops as investors lose N282bn
Airtel Africa’s shareholders lost N282.98 billion on Tuesday as the company’s market valuation crashed at the end of trading at the Nigerian Stock Exchange (NSE).
The telecommunications company’s value was down by 10 percent after its market capitalisation dropped to N2.54 trillion at the close of business.
This was lower than the previous N2.83 trillion as some investors engaged in massive sell-off of their shares in the company.
READ ALSO: NLC ready for another showdown with El-Rufai over sacked workers
This triggered high trading activities on Airtel Africa’s stock at a cheaper price. 1,997 shares were sold at N753.3 per share on Monday.
The mobile network’s shares increased to 100,673 on Tuesday. However, these were sold at N678 per share on the floor of the capital market.
-
Business5 days agoCBN reduces MPR by 350bps to 23% in major monetary policy shift
-
Business7 days agoJetour takes T1 adventure SUV experience to Abuja, targets growing Nigerian market
-
Football4 days agoSaka: England still carry World Cup scar
-
Comments and Issues5 days agoSometimes, goodwill finds us through the people we love
-
Football1 week agoNigeria vs Colombia: Falconets battle for U-20 World Cup semi-final ticket
-
Latest2 days agoArsenal eye €70-80m move for Real Madrid star
-
Football1 week agoBreaking:Brighton shocks Arsenal 3-0 as Gunners’ perfect start comes crashing down
-
Comments and Issues7 days agoPeter Obi and the Pensioners’ Testimony