Malawi Communications Regulatory Authority (MACRA) has urged Malawians to buy shares in Airtel Malawi Limited plc.
This is following announcement of the company that it will list on Malawi Stock Exchange (MSE) to meet one of the objectives of Communications Act 2016.
“The Malawi Communications Regulatory Authority (MACRA) is pleased to note the impending Initial Public Offering (IPO) of Airtel Malawi Limited plc shares,”
“One of the objectives of the Communications Act 2016, is to encourage the participation of indigenous Malawians in communications sector,” reads part of a statement issued by MACRA’s Director General Godfrey Itaye.
According to a statement, Malawians should utilize the opportunity and buy shares in the company.
“Section 35 of the Communications Act 2016 requires electronic communication service providers to have a minimum local shareholding of 20 %. The offer to the public to buy shares in Airtel Malawi Limited plc will therefore help Malawians have ownership in the company and benefit from it as indigenous citizens,” reads a statement.
A pre-listing statement issued recently by Airtel Malawi Limited plc Managing Director Charles Kamoto, the IPO will be opened today, December 27, 2019, at a price of K12.69 per share.
Kamoto said the company plans to officially list on MSE on February 24, 2020.