Airtel Africa Plans To List On Malawi Stock Exchange
Airtel Africa has revealed its plans to list its Malawi telecoms business on the country’s stock exchange, as the operator aims to capitalise on growth in the market.
The Managing Director of Airtel Malawi, Charles Kamoto, stated that the planned IPO would allow citizens to share in the growth of the business, which had now become “significantly ingrained in the fabric of the nation”.
The company stated that the number of shares to be offered as well as the indicative price range would be determined in due course.
Airtel Malawi’s proposal will be subject to approval from the country’s authorities. Current industry regulations require the telco to own at least 20 percent of the business.
The company has invited Standard Bank Malawi to act as its lead advisor, according to a statement released by Airtel Africa.
Airtel Africa has a presence in 14 countries across Africa.
The mothership, Bharti Airtel, made moves to list the company on the London Stock Exchange in June, with the intention of raising $750 million.
The Malawi business confidently claims to be the number one provider of mobile money services in the country, with Airtel Money launched in 2011.
Airtel Malawi also operates 2G, 3G, 4G in addition to fixed broadband communications services.
Credit: This article originated from www.mobileworldlive.com