Airtel Africa has been made a part of the FTSE 100 Index with effect from Monday, 31 January, 2022, the telco announced
Telecom major Bharti Airtel on Thursday informed that its subsidiary Airtel Africa has been made a part of the FTSE 100 Index with effect from Monday, 31 January, 2022.
"Airtel Africa listed on the London Stock Exchange in June 2019 and the milestone underscores the growing investor confidence in the business. The company had a market capitalisation of over $7.5* billion (*as per closing price on 26.01.2022) with Enterprise Value at $10.7 billion," the company said in an exchange filing today.
Airtel entered Africa in 2010 and through its mobile telecoms and mobile money services, Airtel Africa plc offers services to over 122 million people across the 14 African markets in which it operates.
“This is a significant milestone for Airtel Africa, which becomes part of the FTSE 100 in just two and a half years of listing on the London Stock Exchange joining the most valuable companies. Airtel Africa is a strong player in the African continent, which has emerged as the next growth frontier globally," said Sunil Bharti Mittal, Chairman, Bharti Airtel.
For the half year ended 30 September 2021, Airtel Africa’s revenue grew by 25.2% year-on-year (YoY) to $2.27 billion with double digit growth across all regions. For the period, its net profit doubled to $335 million while its leverage reduced to 1.5x from 2.2x, the release showed.
Headquartered in India, Airtel is a global communications solutions provider with over 480 million customers in 17 countries across South Asia and Africa.
Telecom major Bharti Airtel on Thursday informed that its subsidiary Airtel Africa has been made a part of the FTSE
FTSE
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" /ˈfʊtsi/, is a stock market index of 100 of the most highly capitalised blue chip companies listed on the London Stock Exchange.
100 Index with effect from Monday, 31 January, 2022. "Airtel Africa listed on the London Stock Exchange
London Stock Exchange
London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. As of August 2023, the total market value of all companies trading on the LSE stood at $3.18 trillion. Its current premises are situated in Paternoster Square close to St Paul's Cathedral in the City of London.
https://en.wikipedia.org › wiki › London_Stock_Exchange
Airtel Africa has a three-year median payout ratio of 36%, which implies that it retains the remaining 64% of its profits. This suggests that its dividend is well covered, and given the decent growth seen by the company, it looks like management is reinvesting its earnings efficiently.
Airtel Africa's Primary Listing Exchange is London Stock Exchange (LSE) while NSE is the Secondary Listing Exchange. The listing is a Cross Border Secondary Listing because the primary listing is in one jurisdiction, the United Kingdom (LSE) and the secondary listing is in another jurisdiction, Nigeria (NSE).
The 100 companies with the highest market caps make it into index. Stocks with higher market caps have more weight in the FTSE 100 and therefore have a bigger effect on the index's price movements. The market capitalisation of each company is reviewed once a quarter, and the index is adjusted if necessary.
Aligned with its parent company's three-tiered business model encompassing digital infrastructure, digital experience, and digital services, Airtel Africa has a comprehensive growth strategy named “Win with.” This strategy revolves around six key pillars: network, distribution, data, mobile money, cost, and people.
Airtel Africa is forecast to grow earnings and revenue by 85.9% and 5.8% per annum respectively. EPS is expected to grow by 66.2% per annum. Return on equity is forecast to be 18.3% in 3 years.
As of 21st March 2024, the share price of Airtel has reached ₹1242/share. Bharti Airtel shares have performed very well in the past couple of years. In the last year, Bharti Airtel shares gave a 62% return, which is nearly double that of the Indian benchmark index Nifty 50, which gave a return of nearly 30% last year.
Still, those risks – especially devaluation of the Nigerian currency – have hurt the Airtel Africa share price badly. The shares have lost a quarter of their value over the past month alone and now trade for pennies apiece.
Vast Natural Resources: Africa is rich in natural resources, including minerals, oil, gas, and agricultural land. These resources can offer significant investment opportunities in industries such as mining, energy, and agriculture. Growing Population: Africa has a young and rapidly growing population.
Introduction: My name is Jonah Leffler, I am a determined, faithful, outstanding, inexpensive, cheerful, determined, smiling person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
Premium
