MSE hints on another equity listing this year
Malawi Stock Exchange (MSE) chief executive officer John Kamanga has said the bourse is geared this year to increase the number of companies listed on the stock market.
He was speaking on Monday on the margins of the listing of newly established property management firm ICON Properties. The new entrant brings the total number of counters to 14 from 13.
Kamanga said the listing of the new firm on the bourse signifies confidence from the market which has over the years registered positive results for the investing public.
He pointed out that the positive results are triggering a lot of inquires about listing on the shares market.
“The market has been vibrant for some time now and most of our listed counters have also posted positive results. We have had some inquires from various companies on listing and now we have confirmed booking in terms of listing in the year and we are looking forward to this. This shows there is now confidence in the market,” he said.
Over the past one and half year, the Ministry of Finance, Economic Planning and Development, in collaboration will the Reserve Bank of Malawi (RBM) and the MSE, have tirelessly worked to increase both the number of companies listed on the local stock market.
So far, for the past 10 years, the market only saw a number of Bonds being listed.
Kamanga said that is why, it has been undertaking workshops and seminars to convince companies on the benefits of raising capital through the market.
For RBM governor Dalitso Kabambe, the launch of three digital platforms at MSE in the just ending week time is a good development for companies to look at the stock market as the first option to raise cheap capital.
He said: “We are aware that several others have also committed to listing their companies later in the year and next year and we look forward to their listings as well. Globally, a stock market is where people raise capital cheaply for businesses and this has to be done in Malawi as well. We look forward to more new listings on MSE.” n
