Airtel Malawi is offering 20 percent of its shares to Malawians at a price of K12.69 per share.
The company is selling 2.2 billion shares, which is the largest Initial Public Offer in the history of the Malawi Stock Exchange.
Malawians can start buying the shares from December 27 and the offer will remain open until January 31, 2020.
Airtel Malawi managing director Charles Kamoto described the offering as a once in a lifetime opportunity to be part of the shareholders of a company that is operating in an industry that is fast growing.
“Participating in this offer will give Malawians both locally and abroad the opportunity to share in Airtel’s growth prospects.
“Through the years, Airtel has consistently invested in its infrastructure. The company has the widest 3G and 4G networks with a network spanning 85 percent of the nation. Given the growing demand for data services driven by lifestyle changes and the increasing use of smartphones, Airtel expects that growth that has been experienced in the past to continue,” said Kamoto.
He added that Airtel is a diversified and resilient business which is well placed to benefit from delivering its services across Malawi.
According to Kamoto, any person who wants to buy the shares can apply using Airtel Money or by completing application forms at any branches of Standard Bank, NBS Bank, National Bank, FDH Bank and First Capital Bank.
People can apply for any amount of shares but the minimum number of shares is 500 which cost K6,345.
However, employees of Airtel have a preferential 7.5 percent of the 2.2 billion shares which represents 1.5 percent of Airtel Malawi.
Airtel Malawi is a subsidiary of Airtel Africa which has operations in 14 African countries.