Malawi Stock Exchange hopes for more new listings in 2020

Post was last updated: January 2, 2020
KAMANGA – The year 2020 looks quite bright

Expectations are high among officials of the Malawi Stock Exchange (MSE) that two new companies will join the stock market in the course of the New Year, 2020.

In an interview, MSE Chief Executive Officer, John Kamanga, without revealing the names of the companies said they come from the financial sector.

“The year 2020 looks quite bright, I can attest that the market should be ready for good listings coming as we will be listing at least two more companies from the financial sector and we have had some confirmed enquiries as well as they have started appointing advisors so we are ready and we are looking forward with positivism,” Kamanga said.

He added that they are also hopeful that two more new companies will also join the bond market in the year.

Kamanga declined to mention names of the companies citing the oath of secrecy they went into with the companies.

This is coming barely a week after Airtel Malawi issued an Initial Public Offer issuing 2.2 billion shares.

The offer represents a 20 percent stake in the company being offered to the public and are being traded at shares are being traded at K12.69 per share.

The company is expected to be listed at the end of the month of January on the market, once the shares have been bought off.

In July 2019 one of the country’s high street banks, FDH Bank, announced plans to list on the stock market by June 30, 2020.

The listing could bring the number of commercial banks on the local bourse to five.

The firm’s group chief executive officer, Thom Mpinganjira, urged Malawians to start saving in readiness for what he called “great investment opportunity” to own FDH Bank.

He said this will be a fulfilment of the agreement the bank made with the Malawi Government when it acquired 80 percent stake in the previously government wholly-owned Malawi Savings Bank (MSB).

Let us know what you think of this update and remember to add us on our facebook and follow us on our twitter. Make sure to come back daily for more Malawi business news updates.

Quick Links: Malawi Banking News | Malawi Technology News | Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?

Today’s top business story: Top Commercial Banks In Malawi

Source link