The listing of Airtel Africa shares planned for July 5 has been postponed to ensure the telecoms company meets its listing requirements, the Nigerian Stock Exchange said on Friday.
India’s Bharti Airtel last week offered shares in its African unit to investors through an IPO floated on the London stock market.
It subsequently planned a secondary listing on the Nigerian stock market.
The Nigerian bourse said it postponed the cross-border secondary listing of 3.76 billion shares of Airtel Africa, but allowed Airtel to go ahead with an investor presentation.
The bourse added that it would inform the market on when the conditions have been met.
In May, Airtel’s rival South Africa’s MTN listed its Nigerian unit on the Nigerian Stock Exchange in a $6.5 billion float that turned it into the second-largest stock on the bourse by market value.
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