Airtel Africa shares dropped by 9.99 per cent on the Nigerian Stock Exchange (NSE), a day after listing, forcing the market indices to close on negative region.
Specifically, the stock which opened trading at N399.30 shed N39.90 or 9.99 per cent to close at N359.40 per share.
Airtel Africa on July 9 listed 3,758,151,504 shares ordinary shares at N363 per share. It appreciated by N36.30 per share or 10 per cent at the first trading day to close at N399. 30 per share.
Conversely, MTN Nigeria Communications led gainers’ table, appreciating by N3.95 to close at N133 per share.
In all, investors bought and sold 188.77 million shares worth N3.72 billion in 3,363 deals.
This was in contrast with 394.62 million shares valued N3.22 billion exchanged in 4,034 deals on Tuesday.
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