Airtel Africa Targets 12 Million Shares In Fresh Buyback

Airtel Africa Plc has commenced the second tranche of its share buyback programme, concentrating on the repurchase of as much as 12.03 million unusual shares, representing roughly 0.33 per cent of its issued share capital as of May 22, 2026.

The telecommunications and cell cash providers supplier mentioned the newest section of the programme would run till December 22, 2026, on the newest, as a part of its technique to return capital to shareholders and optimise its capital construction.

The firm disclosed this in a regulatory announcement, stating that it had entered into agreements with Citigroup Global Markets Limited (Citi) to execute the newest tranche by on-market purchases of its unusual shares.

Under the association, Citi will buy the shares on behalf of the corporate, which can subsequently purchase them from the monetary establishment.

Airtel Africa mentioned the newest tranche would cowl as much as 12,033,748 unusual shares, representing the remaining allocation beneath the unique buyback programme introduced on May 22, 2026.

The firm had initially secured approval to repurchase as much as one per cent of its issued share capital beneath the programme, with the primary tranche accomplished on September 28, 2026.

Following the completion of that section, the remaining authority beneath the particular programme stood at roughly 0.33 per cent of the corporate’s issued shares.

Airtel Africa defined that the agreements with Citi would function by two parallel preparations, comprising non-discretionary and discretionary buy mechanisms.

Under the non-discretionary association, Citi will independently decide its buying and selling selections and buy the corporate’s unusual shares with out receiving directions from Airtel Africa on particular person transactions.

The discretionary element, nonetheless, will enable Airtel Africa to offer directions to Citi on share purchases, topic to relevant regulatory necessities and the phrases of the agreements.

The firm mentioned the preparations have been designed to make sure that purchases complied with predetermined buying and selling parameters and related market laws.

It added that the agreements would stay in operation till December 22, 2026, except terminated earlier in accordance with their phrases.

Airtel Africa acknowledged that the only real goal of the buyback programme was to scale back the corporate’s share capital. Consequently, all unusual shares acquired beneath the association might be cancelled moderately than retained as treasury shares.

The cancellation of the repurchased shares would cut back the corporate’s issued share capital, doubtlessly rising the proportionate possession of present shareholders who don’t promote their holdings.

The newest transaction is a part of Airtel Africa’s broader capital allocation coverage, which incorporates returning surplus capital to shareholders whereas sustaining an applicable stability between funding in its operations and shareholder returns.

The firm additionally clarified that its shareholders had granted it a wider authority to repurchase unusual shares on the annual common assembly held on July 9, 2026.

At the assembly, shareholders authorised the corporate to buy a most of 364,577,234 unusual shares.

Following the completion of the preliminary tranche, the remaining shareholder-approved authority stood at 352,727,390 unusual shares.

However, the corporate pressured that the present tranche can be restricted to the 12,033,748 shares remaining beneath the particular programme introduced in May.

The agreements with Citi can even function inside the limits prescribed by the corporate’s shareholder-approved repurchase authority, the United Kingdom Financial Conduct Authority’s Listing Rules and relevant market abuse laws.

Airtel Africa additional disclosed that the discretionary preparations might embrace irrevocable, non-discretionary directions permitting Citi to proceed executing the buyback in periods when the corporate is restricted from buying and selling in its personal shares.

During such closed durations, Citi will function the discretionary element autonomously in accordance with the agreed buying and selling parameters and relevant laws.

The firm, nonetheless, made it clear that no shares can be repurchased on the Nigerian Exchange Limited (NGX).