Airtel officially lists on Malawi Stock Exchange

Airtel Malawi has officially listed on Malawi Stock Exchange on Monday morning February 24 2020.

Charles Kamoto: Airtel Malawi CEO

The company  is offering 2.2 billion shares at K12.69 per share on the Malawi Stock Exchange , allowing the public, for the first time, to own part of the telecommunications firm.

Airtel’s offer represents Malawi’s largest initial public offer (IPO) in the history of MSE listing, which represents 20 percent stake in the business through an offer to sell 1.6 billion shares or 15 percent, and an over-allotment option of 550 million shares, representing five percent.

It has gained by K5.30 in 8 trades to trade at K17.99 per share from the IPO price of K12.69.

Reserve Bank of Malawi (RBM) says Airtel Malawi listing presents a rare investment opportunity in the telecommunications sectors.

This listing also enables the company to comply with Section 35 of the Communications Act of 2016, Regulation 26 (2) of the Communications (Telecommunications and Broadcasting Licensing) Regulations of 2016 and Clause 42.2 of the subsidiary’s operating licence, which requires the company to have at least 20 percent local Malawian shareholding.

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