Indian Continent Investment, linked to Airtel Africa board member Shravin Bharti Mittal, has increased its stake in the telecommunications company to 15.10% following a substantial acquisition of shares worth \u00a390.85 million (approximately N100.65 billion). The transaction involved the purchase of 94,593,705 shares at \u00a30.9604 per share and was executed through off-market bilateral private arrangements.<\/p>\n
The corporate notice on Director\u2019s Dealings, filed with the Nigerian Exchange Limited (NGX) on Thursday, revealed that the transaction occurred on Tuesday. Following this acquisition, Indian Continent Investment, through Bharti Overseas Private, now holds voting rights over 567,665,566 shares in Airtel Africa, representing a 15.1% stake in the company. This marks a significant increase from the previous stake of 12.58%.<\/p>\n
Notably, about a month ago, Indian Continent Investment purchased Airtel shares worth \u00a357.25 million, leading to the earlier increase in its stake to 12.58%. The recent acquisition further solidifies the company’s position as a major shareholder in Airtel Africa.<\/p>\n
Simultaneously, Singapore Telecom International Pte Ltd, another investor, reduced its shareholding in Airtel Africa to below three percent from 3.94% as it disposed of some shares.<\/p>\n
These developments highlight the dynamic nature of shareholding in Airtel Africa, reflecting the continuous adjustments in the ownership structure of the telecommunications giant.<\/p>\n","protected":false},"excerpt":{"rendered":"
Indian Continent Investment, linked to Airtel Africa board member Shravin Bharti Mittal, has increased its stake in the telecommunications company to 15.10% following a substantial acquisition of shares worth \u00a390.85 million (approximately N100.65 billion). The transaction involved the purchase of 94,593,705 shares at \u00a30.9604 per share and was executed through off-market bilateral private arrangements. The […]<\/p>\n","protected":false},"author":12,"featured_media":11609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[180],"tags":[],"class_list":["post-11608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/11608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=11608"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/11608\/revisions"}],"predecessor-version":[{"id":11826,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/11608\/revisions\/11826"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/11609"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=11608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=11608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=11608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}