The Malawi Communications Regulatory Authority (Macra) has hailed mobile phone network services provider, Airtel Malawi’s intention to officially list on the Malawi Stock Exchange (MSE).
The regulator has since encouraged Malawians to take advantage of the offer and invest in the company.
On Friday last week, the company made an Initial Public Offer (IPO) of a total of 2.2 billion shares at a price of K12.69 per share.
The offer represents the largest IPO raise in the history of MSE.
In a statement, Macra Director General Godfrey Itaye said Airtel Malawi’s decision to list on the local bourse is in sync with objectives of the Communications Act of 2016 which encourages the participation of indigenous Malawians in the communications sector.
“So Airtel Malawi’s decision will help Malawians have ownership of the company. Macra therefore, encourages all citizens to take this opportunity and buy shares in the company,” reads part of the statement.
Macra says development will also enhance benefits Malawians will accrue from the company.
Section 35 of the country’s Communications Act requires electronic communication service providers to have a minimum local shareholding of 20 percent.
Addressing journalist when announcing the intent last week, Airtel Malawi Chief Executive Officer, Charles Kamoto, said the IPO is expected to run until January 31, 2020.
Eric Msikiti is a Senior Reporter/News Producer at Times Group. Though relatively young, Eric boasts years of experience in Malawi’s media industry.
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