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Airtel share price down 2.1 percent

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KAMANGA—Future looks bright

Share prices for newly-listed, Airtel Malawi plc, dropped by 2.1 percent two weeks after listing on the local bourse.

The company made headlines when its share price shot by 41.7 percent on day of listing from K12.60 to K17.99 per share.

A weekly market report for the week ending March 6 2020 shows that Airtel share price closed at K17.61.

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During the week, the company registered three trades where 188,343 shares were transacted at a consideration of K3.32 million.

In an interview, General Secretary of the Minority Shareholders Association of Listed Companies, Frank Harawa, said the trend is common among newly listed companies.

He said he expects the share price to continue decreasing.

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“The trend is because everyone who wanted the shares managed to buy during the IPO and because foreign nationals are restricted from purchasing Airtel shares there is no money to flow,” Harawa said.

In an earlier interview, Malawi Stock Exchange Chief Executive Officer, John Kamanga, predicted that share prices of the company may continue to rise owing to a high number of retail investors as compared to institutional investors.

He said despite institutional investors taking 85 percent in terms of the value, they are only 42 and there is growing appetite among retail investors which might further push the share price up.

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