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.
-
Business4 days agoOPay explains how Nigerians can access FG’s N50,000 monthly cash relief
-
Sports1 week agoSenegal opens Dakar 2026 Youth Olympic Games, Africa’s first Olympic event
-
Latest1 week agoFG Announces N50,000 cash support for vulnerable Nigerians under new relief programme
-
Business1 week agoNNPC’s N66-per-litre petrol discount set to end October 31
-
Latest1 week agoINEC recognises Pantami for Gombe, keeps Kano NDC candidate off final list
-
Latest1 week agoNDC Chieftain tells Atiku to drop presidential ambition over son’s support for Tinubu
-
Crime1 week agoDoris Ogala remanded as Court adjourns bail hearing to November 6
-
Latest1 week agoOne dead, one injured in three road emergencies across Lagos – LASEMA