Airtel Africa Plc has commenced a brand new tranche of its share buyback programme, concentrating on the repurchase of as much as 12.03 million extraordinary shares, representing 0.33% of its issued share capital.
The telecommunications firm disclosed this in a company announcement dated November 5, 2026, stating that the most recent tranche kinds a part of its broader programme, initially introduced on May 22, 2026, to return money to shareholders beneath its capital allocation coverage.
The newest tranche is anticipated to run till December 22, 2026, on the newest, except terminated earlier in accordance with the phrases of the settlement.
Airtel Africa engages Citi for brand spanking new share buyback
Airtel Africa stated the most recent tranche follows the completion of the primary tranche of the buyback programme on September 28, 2026, leaving Board authority to repurchase as much as 12,033,748 further extraordinary shares.
- The unique programme offered for the repurchase of as much as 1% of the corporate’s issued share capital as of May 22, 2026.
- For the most recent tranche, the corporate has entered into agreements with Citigroup Global Markets Limited (Citi), which can conduct on-market purchases of Airtel Africa’s extraordinary shares earlier than subsequently promoting the shares to the corporate.
- Citi will act as a riskless principal beneath the preparations, which comprise two parallel parts: a non-discretionary element, beneath which Citi independently makes buying and selling choices, and a discretionary element, by which Airtel Africa might present directions to Citi for share purchases.
The firm stated any purchases shall be carried out inside pre-set parameters and in compliance with relevant UK itemizing guidelines and market abuse rules.
Shares to be cancelled after repurchase
Airtel Africa acknowledged that the only objective of the buyback programme is to scale back the corporate’s capital, which means all shares acquired beneath the programme shall be cancelled.
- The firm additionally disclosed that shareholders, at its July 9, 2026 Annual General Meeting, had authorised it to repurchase a most of 364,577,234 extraordinary shares.
- Following the completion of the preliminary tranche, the remaining authority beneath this normal shareholder approval stood at 352,727,390 shares.
- However, the corporate clarified that the most recent buyback preparations won’t contain purchases on the Nigerian Exchange Limited (NGX).
The discretionary preparations may additionally embrace irrevocable, non-discretionary directions permitting Citi to proceed working the buyback programme throughout closed intervals. Citi will function this aspect autonomously throughout such intervals.
Airtel Africa’s buyback programme up to now
The newest tranche builds on Airtel Africa’s ongoing efforts to return money to shareholders by share repurchases, with the corporate having already purchased again hundreds of thousands of shares since launching the programme in May 2026.
The newest tranche introduces Citigroup Global Markets Limited (Citi) because the establishment executing the brand new association, changing (*12*) within the earlier association.
