Monday October 5, witnessed Malawi’s biggest Initial Public Offer (IPO) in Malawi’s stock exchange history when TNM Limited, one of the country’s two mobile phone service providers put to offer over I billion shares to the public.
The company also broke record for becoming Malawi’s first telecommunication company to list on the Malawi Stock Exchange (MSE).
TNM Chairman Professor Mathews Chikaonda disclosed that the company intends to raise K2.5 bn.
“There is an appetite from people to invest in TNM,” he said adding that the company has plans to venture into massive expansion projects.
“There are various ways where a company can raise money and as a growing company we have massive expansion projects that need funding, so instead of borrowing from the banks we can also go to the capital market to raise money,” he explained
Gregory Gondwe is a Malawian Journalist. He covers most of the issues unfolding in this part of Sub-Saharan Africa. Lately, his focus has been on Musical information about Malawi, most of the musical articles that appear here until March 2016 were a reproduction of Column entries in Malawi's oldest weekly, Malawi News which was called Drumming Pen.. Now he writes a similar column in the Weekend Nation called Lyrical Pen.
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