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Malawi: TNM offers one billion shares to public

Malawi witnessed its biggest Initial Public Offer (IPO) in its stock exchange history when TNM Limited, on Monday, 5 October, 2008, put to offer over one billion shares to the public. The company is also Malawi's first telecommunications company to list on the Malawi Stock Exchange (MSE).

By Gregory Gondwe

7 Oct 2008

TNM chairman, Professor Mathews Chikaonda disclosed that the company intends to raise K2,5bn.

“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

About Gregory Gondwe

Gregory Gondwe is a Malawian journalist who started writing in 1993. He is also a media consultant assisting several international journalists pursuing assignments in Malawi. He holds a Diploma and an Intermediate Certificate in Journalism among other media-related certificates. He can be contacted on moc.liamg@ewdnogyrogerg. Follow him on Twitter at @Kalipochi.