Airtel Malawi to open Malawi Stock Exchange’s Initial Public Offer on December 27 at MK12.69 per share


By Duncan Mlanjira

Airtel Malawi plc, which is on the process of listing on the main board of the Malawi Stock Exchange (MSE), will open the Initial Public Offer (IPO) on Friday, December 27 at a price of MK12.69 per share.

A statement from Airtel released on Tuesday (December 24) says it has released its Pre-Listing Statement in compliance with the Malawi Stock Exchange’s Listings Requirements, providing further details about the listing on the stock exchange. 

The listing on MSE is aligned to the Communications Act of 2016, Communications (Telecommunications and Broadcasting Licensing) Regulations of 2016 and its operating license.

The initial Public Offer (IPO) will enable the general public to, for the first time, own a part of the leading telecommunications provider in Malawi. 

The statement said the offer of 2.2 billion Airtel shares represents a 20% stake in the business through an offer for sale of 1.6 billion Airtel shares (15%) and an over allotment option of 550 million (5%) Airtel shares. 

“This Offer represents the largest IPO raise in the history of the Malawian Stock Exchange,” says the statement.

“The Offer will remain open until 31 January 2020, ensuring a broad base of the Malawian population have an opportunity to invest in the capital markets and invest for the future.”

Airtel MD Charles Kamoto

The statement says application forms for shares will be available in the Prospectus, which will be issued on December 27 that will be uploaded on their website and copies of which will be available in Receiving Bank Branches across the country. 

And in line with ensuring convenience for potential investors, shares can be applied for through Airtel Money. 

The Pre-Listing Statement and further details of the listing process are also available on their website


“Airtel’s journey in Malawi continues,” the statement quotes Airtel Malawi Managing Director Charles Kamoto as saying. “Today, after just over 20 years of operating in the country, the people of Malawi will now not only know Airtel as their telecommunications company of choice but one that they also own a part of. 

“Participating in this Offer will give Malawians both locally and abroad, the unique opportunity to share in Airtel’s growth prospects.”

Through the years, Airtel has consistently invested in its infrastructure as the company has the widest 3G and 4G networks in the country, with a network spanning more than 85% of the nation. 

“Given the growing demand for data services driven by lifestyle changes and the increasing use of smartphones, Airtel expects that growth that has been experienced in the past to continue.

“Airtel is a diversified and resilient business, which is well placed to benefit from delivering its services across Malawi. 

“Our success over the years has been supported by a committed employee base that is led by a management team with the experience and capability to execute inspirational projects. 

“I am confident that we will continue to achieve this success into the future,” Kamoto is quoted as saying.

The key dates of the Offer are:

*Offer opens — publication of prospectus (December 27, 2019)

*Last day for application-offer closes (January 31, 2020)

*Results of the Offer submitted to MSE committee (February 11, 2020)

*Results announcement (February 14, 2020)

*Refunds sent to applicants (February 17, 2020)

*Securities listed if listing granted (the listing shall fall on a Monday)

Headquartered in Lilongwe, Airtel Malawi is the country’s leading mobile service provider offering 4G/LTE, 2G and 3G wireless networks and high speed fixed broadband internet services. 

Airtel Malawi also offers the largest mobile financial service in the country through Airtel Money, which was launched in Malawi in February 2011.

Airtel Malawi was established in Malawi in 2010 as a subsidiary of Airtel Africa. Airtel Africa Limited is a Pan-African telecommunications company with operations in 14 countries across Africa.

Airtel Africa (LSE: AAF; NSE: AIRTELAFRI) is a leading provider of telecommunications and mobile money services, with a presence in 14 countries in Africa, primarily in East, Central and West Africa.

Airtel Africa offers an integrated suite of telecommunications solutions to its subscribers, including mobile voice and data services as well as mobile money services both nationally and internationally. 

The Group aims to continue providing a simple and intuitive customer experience through streamlined customer journeys.