(MaraviPost)-Airtel Malawi (MSE:AIRTEL) on Monday, February 24, 2020 listed as the 15th counter and second telecommunications company on the Main Board of Malawi Stock Exchange (MSE) with the share code AIRTEL.
The listing, whose shares were Offered at a price of MK12.69 per share is the first listing on the MSE for 2020 and the largest IPO in the history of Malawi.
Speaking at the listing Airtel Malawi Managing Director Charles Kamoto said: “Today is an important day for Airtel Malawi. Whilst this is the culmination of a year long process it also marks the beginning of a new era for the business.
“I would like to take this opportunity to thank my fellow employees, customers and other stakeholders who supported us to get to where we are today”.
He adds, “I also wish to welcome the new shareholders of Airtel Malawi to the family. As previously outlined, we are optimistic about the outlook for the telecommunications industry and believe we are well positioned to benefit from the attractive growth prospects in the sector, which we hope will benefit our shareholders in the long term.”
Through the years, Airtel has consistently invested in its infrastructure.
The company has a network spanning more than 85% of the nation, being the widest 3G and 4G network in the country.
Fibre is also being deployed in key routes and cities.
Together with data availability, this will benefit consumers given the growing demand for data services driven by lifestyle changes and the increasing use of smartphones.
This listing, whilst aligned to the Communications Act of 2016 also provides an opportunity to deepen Malawi’s capital markets through providing an additional avenue for investment.
With 20% of Airtel Malawi now in the hands of the Malawian public, Malawians have the opportunity to share in Airtel’s success story.
John Kamanga, the CEO of the Malawi Stock Exchange welcomed Airtel Malawi’s listing.
“Today is significant, not only on the books of Airtel Malawi but also for us at the Malawi Stock Exchange. The listing of Airtel Malawi adds another quality counter to our exchange as the 15th and biggest IPO yet to be delivered on the MSE since inception in 1994.
“The listing adds to our broader goal of bolstering Malawi’s capital markets through the creation of additional investment opportunities for existing and new shareholders,” said Kamanga.
He added, “We believe that the listing will ultimately be beneficial for all Malawians through growth in our capital markets and economy and look forward to more companies coming forward and listing on the exchange”.
