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Battle for prominence on Malawi Stock Exchange

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Competition has ensued among Malawi Stock Exchange (MSE)-listed counters as Standard Bank plc, one of the three listed firms from the banking sector, now has highest share prices, overtaking Press Corporation (PCL) plc.

Since last year, PCL plc had the highest share price at K2, 181 per ordinary share until last week when Standard Bank plc share price moved to K2,200 per ordinary share.

Eight other counters have seen their share prices increasing in the first three weeks of the year.

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Blantyre Hotels Limited plc, the parent company for Ryalls Hotel, has the lowest share price at K10 per share which it has maintained since last year.

Minority Shareholders Association of Listed Companies General Secretary Frank Harawa said the race among listed counters is propagated by recent postings of trading statements which points to a positive outlook.

He said the race points to a good year on the local bourse.

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“This is the year for Malawi Stock Exchange because what is happening now happened for the last time around 2018 and 2019. The good performance is back and it is so exciting for investors,” Harawa said.

Different listed companies have indicated high degrees of profit growth for the year ending December 31, 2022 ranging from 30 percent to 240 percent.

For example, Standard Bank has indicated that it expects a profit growth of 30 percent for 2022 compared to the preceding year and this month, investors are expected to get dividends of K12 per ordinary share.

Malawi Stock Exchange Chief Operating Officer Kelline Kondowe said this far, the market has performed exceptionally well.

She said so far, 31.3 million shares have already been transacted which is an increase from 24.6 million shares transacted the whole of January last year.

“This has been a good start of the year and this should be because of trading statements issued because most of the companies which have gained share prices have trading statements that indicate good profits,” Kondowe said.

MSE started in 1996 and currently has 16 companies ranging across all the sectors with the banking sector carrying the majority of counters.

Other counters include from sectors such as manufacturing, real estate, telecommunication and hospitality.

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