By George Lumwira
Airtel Malawi shares have gained by 120 %, a year after listing on the Malawi Stock Exchange.
The telecommunications company which was officially listed in February 2020, has seen its share price rising from its initial offer of K12.69 to K27.98.
Market Analyst and Chief Executive Officer for Malawi Stockbrokers Limited Noel Kadzakumanja notes that the counter’s shares performed extraordinarily well during its maiden year.
“The Airtel share price did extremely well during the 12 months it has been listed on the market. It has gained about K15 during the period meaning investors who bought the share have really realized huge profits,” Kadzakumanja said.
Kadzakumanja observes that there has been mixed fortunes for the telecommunications sector at the stock market.
But he hints at the performance of the new entrant Airtel Malawi as inspiring to potential investors
“This entails that the capital market has the potential of being one of the profitable business platforms especially to those looking for long-term investment,” Kadzakumanja added.
Meanwhile, the Market analyst has attributed the better performance of Airtel shares to the recent growth and profitability of Airtel’s business, as evidenced in rising profit levels achieved in its recent financial years.
Airtel became the 15th company to list on the local bourse which to date has a total number of listed companies of 16, following the July’s FDH bank listing.