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 bizarre 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 newest tranche kinds a part of its broader programme, initially introduced on May 22, 2026, to return money to shareholders below its capital allocation coverage.
The newest tranche is anticipated to run till December 22, 2026, on the newest, until terminated earlier in accordance with the phrases of the settlement.
Airtel Africa engages Citi for brand spanking new share buyback
Airtel Africa mentioned the newest 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 extra bizarre shares.
- The unique programme supplied for the repurchase of as much as 1% of the corporate’s issued share capital as of May 22, 2026.
- For the newest tranche, the corporate has entered into agreements with Citigroup Global Markets Limited (Citi), which is able to conduct on-market purchases of Airtel Africa’s bizarre shares earlier than subsequently promoting the shares to the corporate.
- Citi will act as a riskless principal below the preparations, which comprise two parallel components: a non-discretionary element, below which Citi independently makes buying and selling selections, and a discretionary element, by which Airtel Africa could present directions to Citi for share purchases.
The firm mentioned any purchases will probably be performed inside pre-set parameters and in compliance with relevant UK itemizing guidelines and market abuse laws.
Shares to be cancelled after repurchase
Airtel Africa acknowledged that the only function of the buyback programme is to scale back the corporate’s capital, that means all shares acquired below the programme will probably be cancelled.
- The firm additionally disclosed that shareholders, at its July 9, 2026 Annual General (*12*), had authorised it to repurchase a most of 364,577,234 bizarre shares.
- Following the completion of the preliminary tranche, the remaining authority below this basic shareholder approval stood at 352,727,390 shares.
- However, the corporate clarified that the newest buyback preparations is not going to contain purchases on the Nigerian Exchange Limited (NGX).
The discretionary preparations might also embrace irrevocable, non-discretionary directions permitting Citi to proceed working the buyback programme throughout closed intervals. Citi will function this factor autonomously throughout such intervals.
Airtel Africa’s buyback programme thus far
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 Barclays within the earlier association.
