Finance

Airtel Malawi sets IPO share price at $0.02

Airtel Malawi sets IPO share price at $0.02
Friday, 27 December 2019 16:56

On 11 December 2019, the African branch of Indian telecom group Bharti Airtel, Airtel Africa, unveiled its intention to list part of its Malawi subsidiary on the local stock exchange. The listing price is set at MK12.69 (0.02 USD) per share.

According to the company, the offer is expected to comprise 1.65 billion shares, representing 15% of the issued share capital. A further 550 million shares, representing 5% of the issued share capital, will be made available subject to the exercise of over-allotment options. This option will enable Standard Bank Plc, the operation arranger, to meet the need in the event of strong investor demand for shares.

With the IPO, Airtel Malawi is expected to generate gross proceeds of about MK27.92 billion (USD 37.5 million) and achieve a market capitalization at a listing of MK139.59 billion (USD 187.4 million).

Airtel Malawi's IPO will enable it to comply with Section 35 of the Communications Act 2016, Section 26(2) of the Communications (Telecommunications and Broadcasting Licenses) Regulations 2016 and Section 42.2 of the subsidiary's operating license, which require that at least 20% of the capital of the telecom company be held by local investors.

On the same topic
EIB Global invested $80 million in RMBV North Africa III, becoming the fund’s anchor investor The fund targets more than $300 million in...
Standard Chartered to sell all Botswana operations, exit market entirely Sale plan expanded after buyers sought full business, not partial...
nabD replaces SoGé following Saham’s takeover of Société Générale Maroc The platform offers mobile-first banking with remote account opening A...
Ghana’s First Atlantic Bank approved to operate in Liberia Liberia entry follows $60M IPO on Ghana Stock Exchange in 2025 FAB aims to...
Most Read
01

Development Partners International sold its 20.17% stake in Atlantic Business International for mo...

DPI Exits Atlantic Business International in $200 Million-Plus Deal
02

Africa’s AI adoption is accelerating, but its ability to scale depends primarily on foundational i...

Africa’s Artificial Intelligence Moment : Infrastructure, Governance and the Path to Scale
03

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
04

Ivory Coast expects a new government after the prime minister and cabinet resigned following Decem...

Ivory Coast Awaits New Cabinet After Post-Election Resignations
05

African startups raised about $3.1 billion in 2025, up from $2.2 billion in 2024, accord...

Venture Capital: African Startups Raised $3.1 Billion in 2025, Launch Base Africa Says
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.