Skip to main content
  • Register
  • Help
  • Contact us
  • Log out of your HL account

Airtel Africa raises $38m through IPO of Malawi subsidiary

Fri 14 February 2020 14:38 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - Telecommunications and mobile money provider Airtel Africa announced the results of the initial public offering of its subsidiary Airtel Malawi on the main market of the Malawi Stock Exchange on Friday.

The London-listed firm said all ordinary shares offered in the IPO were fully subscribed.

"The total number of offered shares amounted to 2,200,000,000, representing 20% of shares outstanding," the board said in its statement.

The price was set at MWK 12.69, or roughly two US cents, per ordinary share, resulting in gross proceeds of approximately MWK 27.92bn, or $37.5m (€28.8m).

At 1435 GMT, shares in Airtel Africa were down 0.66% at 74.95p.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.

    More company news from ShareCast