WED, DEC 11 2019-theG&BJournal-Airtel Africa Plc, a leading telecommunications and mobile money services today announced its intention to list on the main board of the Malawi Stock Exchange (MSE).
Airtel said ‘’the listing is aligned to the Communication Act of 2016, Communications (Telecommunication and Broadcasting Licensing) Regulations of 2016, and its operating license. The Communications regulation requires the company to have at least 20% of local Malawian shareholding.
Airtel said in a statement today that the indicative price range in respect of the Offer, as well as the exact number of shares to be sold in the Offer, will be determined in due course. The Subsidiary will offer its shares for sale subject to regulatory approvals and market conditions.
Airtel Malawi managing director Charles Kamoto said ‘’Today marks a significant milestone in the company’s evolution. Since starting operations in 1999 Airtel Malawi has been ingrained in the fabric of the country. The potential listing will enable Malawians to share in the growth of the company.’’
Kamoto said, Airtel have always believed that mobile communications connects people, helps families and communities stay in touch and enables business to be more efficient.
‘’Listing Airtel Malawi now allows Malawians across the length and breath of the country to be part of a shared journey,’’ he adds.
Airtel Africa Plc also made its Cross Border Secondary Listing of 3,758,151,504 ordinary shares on The Nigerian Stock Exchange (NSE) on Tuesday, July 9, 2019. The shares were listed at an offer price of N363 per ordinary share on the Main Board of The Exchange and at 80 pence per ordinary share on the main market of the London Stock Exchange, the primary listing exchange.
The listing of the company’s shares added N1.36Tn to the market capitalization of The Exchange, further deepening the Nigerian capital market and increased the visibility of Airtel Africa to investors on the continent and across the globe.
Airtel Africa, a leading provider of telecommunications and mobile money services, is the holding company of Airtel Networks Limited (Airtel Nigeria) and thirteen (13) other subsidiaries in Africa – Airtel Congo S.A., Airtel Gabon S.A., Celtel Niger S.A., Airtel Congo RDC S.A. (DRC). Airtel Tanzania Plc, Airtel Networks Zambia Plc, Airtel Networks Kenya Limited, Airtel Tchad S.A., Airtel Madagascar S.A, Airtel Malawi Limited, Airtel Rwanda Limited, Airtel Uganda Limited and Airtel (Seychelles) Limited.