Sunil Bharti Mittal Acquires 163,582,576 Shares of Airtel Africa Plc (LON:AAF) Stock

Airtel Africa Plc (LON:AAF) insider Sunil Bharti Mittal acquired 163,582,576 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of GBX 132 ($1.67) per share, for a total transaction of £215,929,000.32 ($272,500,000.40).

Airtel Africa Trading Up 0.1 %

LON:AAF opened at GBX 140.70 ($1.78) on Tuesday. The company has a quick ratio of 0.26, a current ratio of 0.47 and a debt-to-equity ratio of 275.30. Airtel Africa Plc has a twelve month low of GBX 90.70 ($1.14) and a twelve month high of GBX 148.90 ($1.88). The company has a market cap of £6.45 billion, a P/E ratio of -82.76, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04. The business has a 50 day moving average price of GBX 127.16 and a two-hundred day moving average price of GBX 115.92.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price target on Airtel Africa from GBX 121 ($1.53) to GBX 128 ($1.62) and gave the company a “buy” rating in a research note on Wednesday, December 11th.

Airtel Africa Company Profile

Airtel Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East Africa and Central and West Africa.
Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally.
The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.