By Duncan Mlanjira
Airtel Malawi plc’s Initial Public Offer (IPO) which it opened on December 27 to the public to buy shares at a price of MK12.69 per share as it processed on listing on the main board of the Malawi Stock Exchange (MSE), ends today, Friday January 31.
Airtel released its Pre-Listing Statement on December 24 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.
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Processors
The IPO enabled the general public to, for the first time, own a part of the leading telecommunications provider in Malawi.
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.
The Offer represented the largest IPO raise in the history of the Malawian Stock Exchange.
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.
Airtel MD Charles Kamoto
It’s 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.
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.