TNM Brings the Biggest IPO in the Malawi Stock Exchange History


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

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About Gregory Gondwe - Malawi Best Blogger 2014

Gregory Gondwe is a Malawian journalist who started practising journalism in 1993. Until March 31, 2012 he was regional editor and bureau chief for Zodiak Broadcasting Station (ZBS). Gregory is also a media consultant assisting several international journalists pursuing assignments in Malawi. He holds a Diploma of Journalism and an Intermediate Certificate in Journalism among other media-related certificates. He is also columnist for Malawi's first and oldest weekly, Malawi News. He can be contacted on gregorygondwe@gmail.com.
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