Airtel Malawi Officially Lists on MSE
Airtel Malawi has officially been listed on Malawi Stock Exchange (MSE) at a ceremony the MSE minced no words in reacting to social media critics of the mobile service operator’s listing.
MSE Chief Executive Officer, John Kamanga, said on Monday in Blantyre during the listing that misinformation that social media analysts gave out is a setback for the country’s economic development as it prevents potential shareholders from buying the shares.
Kamanga, however, said the listing is “a good news to Malawi Stock Exchange as well as to the investing public; especially on the first day to have seen the company increasing by 41.1% in terms of its pricing.
“To us, it is a confidence to the company but also to the market that it was well valued to the extent that it has gained what we call ‘a capital appreciation’ by 41.77%. This is quiet commendable to the investing community in the sense that there’s confidence that they are trying to realize value out of their investments which is undertaken on Airtel Malawi,” he said.
Airtel Malawi Managing Director, Charles Kamoto, breathed a sigh of relief to have finally got listed on the stock exchange.
“This is great. I am excited that we have achieved the listing after getting the whole lot of tough work over the past two years or so and also that on the listing day, the pricing surges to 41.1%; this is incredible,” said Kamoto.
Registrar of Financial Institutions, Dr. Dalitso Kabambe, expressed a concern that most of the companies do not list on the MSE because they do not want to have their financial statements made public.
“It is something that businesses have to address because if you are to list on the stock market, it means that you have to get Malawians to invest in your businesses as a public company. If the business is becoming public, then you are under public scrutiny,’ he said.
Information minister, Mark Botomani, said “Airtel is a big company and a tax compliant which deserves to be listed on the Malawi Stock Exchange.
“We have the Communications Act 2016 which makes every communication company in this country to be listed on Malawi Stock Exchange,” he said.