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Malawi Stock Exchange set to break listing drought

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The Malawi Stock Exchange (MSE) has said it is in talks with a property firm for a possible listing on the local bourse early next year.

MSE Chief Executive Officer, John Kamanga, declined to mention the name of the firm for fear of compromising negotiations but said that discussions with the company are at an advanced stage.

This comes as the stock market is set to list a new firm, FMB Capital Holdings, on September 18, through a restructuring.

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During the recent MSE symposium held in Blantyre, new Reserve Bank of Malawi (RBM) Governor, Dalitso Kabambe, challenged the stock market to have at least five new listings within this financial year.

In an interview, Kamanga said with most macroeconomic fundamentals showing signs of improvement, there is hope that this will translate into more new listings on the local bourse.

“The prospects are there, during the first half of next year, we should be having a new company listed on MSE. I cannot mention the name but it is within the property industry,” Kamanga said.

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He said the local bourse is banking on the issuance of a K20 billion two-year fixed coupon bond by government.

The issuance of the bond comes after government issued three bonds three years ago which, however, did not receive a positive response.

But Kamanga expressed optimism this time around, saying there is hope for a positive reaction.

For years now, there has been drought of new listings on MSE.

The market was hit last year by the delisting of Britam insurance company, following a court approval of a minority share buy-out scheme in the company.

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