By the time Icon Properties was listed on the Malawi Stock Exchange (MSE) in January this year, it had been a decade without any listing. MSE has said it expects more listings this year. MSE Chief Executive Officer, John Kamanga, confirmed receiving an application from a telecommunications company which is interested in joining the stock market.
If it the application is successful, it will be two telecommunications on the market after TNM listed in 2008. MSE was launched in 1996 and has since listed 14 firms, namely Nico Holdings Limited, National Bank of Malawi, Standard Bank, NBS Bank, FMB Capital Holdings Limited, Mpico, Old Mutual, Illovo, Sunbird, Press Corporation Limited, Icon, TNM, National Investment Trust Limited and Blantyre Hotels Limited. Kamanga would not reveal the new applicants name, as the Reserve Bank of Malawi would have to approve of the listing first.
Meanwhile, SME remains positive as the second half of 2019 registered the positive return of the Malawi All Share Index (Masi). In the prior year, number of shares traded on the stock exchange increased to 958 million from 699 million in 2017.