Airtel Malawi has announced its intention to list on the main board of the Malawi Stock Exchange (MSE).
The listing means the company will sell at least 20 percent of its shares to Malawians as required by the Communications Act of 2016, Communications (Telecommunication and Broadcasting Corporation Licensing) Regulations 2016 and the company’s operating licence.
Airtel Malawi Managing Director Charles Kamoto on Wednesday described the move as a milestone in the company’s evolution.
Kamoto added that since the company started its operations in 1999, it has been ingrained in the fabric of the country.
“The potential listing will enable Malawians to share the growth of the company, Airtel Malawi’s investment in its network has ensured that we maintain a leadership position into the future through its investment, infrastructure, and innovations offerings and among others,” he explained.
Kamoto went on to say that the company believes that mobile communications connect, helps families and community stay in touch as well as enable business to be more efficient.
According to Airtel Malawi, it aims to list on the MSE pending market conditions and subjects to the approval of authorities.
Airtel Malawi pic was established in 2010 as a subsidiary of Airtel Africa. It is Pan-African Telecommunications Company with operations in 14 countries across Africa.
The intention to list comes months after the Malawi Communications Regulatory Authority fined Airtel Malawi Limited the sum of MK500 million for failing to comply with the minimum local shareholding requirements.