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.
-
Latest5 days agoFull List: Meet the 2026 Nobel Prize winners across six categories
-
Football5 days agoPremier League Matchweek 7: Five Fixtures That Could Shape the Weekend
-
Latest4 days agoUmahi defends Lagos-Calabar highway route changes amid public outcry
-
Business3 days agoDangote Refinery IPO: 70% Subscription claim meets fourfold demand assertion as investors seek clarity
-
Business4 days ago
Dangote Refinery IPO Extension: Was the 70% subscription report overhyped?
-
Latest2 days agoUCTH faces morgue crisis as 50 unclaimed corpses await mass burial
-
Featured4 days agoEl-Rufai, ADC governorship candidate’s court appearance puts Kaduna opposition politics in focus
-
Business2 days agoBREAKING: Nigeria’s Inflation Rate Drops to 14.63% in September