Airtel Zambia was launched in 1998 and continues to be one of the star performers of the Airtel Group. With two competitors in Zambia, Airtel is the market leader with a 69% market share.
Airtel Zambia had 3.076 million active customers at 31 December 2009, representing a 15% increase compared to 31 December 2008. Airtel Zambia's revenues reached ZMK 1,383 million for the year to 31 December 2009, an increase of 14% compared to 31 December 2008. Operating profit marginally declined to ZMK 463 million compared to ZMK 465 million to 31 December 2008 whilst Profit Before Tax increased 8% to ZMK 416 million compared to 31 December 2008. Airtel Zambia's excellent performance was driven by strong customer growth and brand loyalty. The Company continued to expand its network across the country and now provides population coverage of over 73%.
Initial Public Offer on Lusaka Stock Exchange
Following the Offer of 1,040 million shares in the Company, shares in Celtel Zambia Plc (now trading as Airtel Zambia) were listed on the Lusaka Stock Exchange on 11 June 2008, under the abbreviated name "CELTEL" and the ISIN Code: ZM0000000342. The Offer price was ZMK0.64 and as at Friday 20 June 2008, the shares were trading at ZMK0.805 per share.
The ZMK665,600 thousand Offer, which closed on 20 May 2008, generated firm demand from Zambian and international investors amounting to ZMK2, 040 million, with ZMK1,700 million of the demand arising from international investors. This represents excess demand for the offer of greater than 3 times and is a testament to the confidence that the international investor community has in the Zambian economy and the future prospects of the Company.
A total of 5,814 pre-funded application forms were received for 1,583,230,000 Celtel Zambia ordinary shares, representing total proceeds of ZMK1,013,267,200.00, an oversubscription of 1.5 times.
Under the terms of the allocation policy, Celtel Zambia employees and the Zambian public were allotted the full amount of ordinary shares for which they applied, with the balance of the shares being allotted to Zambia and selected international institutional investors on a discretionary basis.
The latest share price for Celtel Zambia can be found at www.luse.co.zm.
Investors can contact our investor relations team with a query or request for further information.
Email : ZambiaIR@Airtel.com
Tel : +260 21 125 0707