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TNM anticipates to increase US$18 Mn from IPO (Malawi)

  • October 17th, 2008
  • 8:20 am

Telekom Networks Malawi (TNM) said it is pleased with how its initial public offer (IPO) is progressing, reportedly. Werner Schrijver, CEO, said, So far 7,000 people have applied for the shares since 6 October when the offering began. The last date for investors to apply is 18th October. TNM shares are scheduled to be listed on the Malawi Stock Exchange on 3 November.

The Telco is expecting to raise about MWK2.5 billion (USD18 million) from the IPO of 1.29 billion ordinary shares, which will represent 20% of the company’s issued share capital post-IPO. Recent data reveals that TNM had an estimated 385,000 subscribers by the end of June 2008, compared to market rival Zain’s 964,000. Global Advanced Integrated Networks (GAIN)(Third Mobile operator) is planning to launch services in May 2009.

Gain to launch it’s services in May 2009 (Malawi)

  • September 29th, 2008
  • 4:49 am

Malawi’s all new operator Gain (Globally Advanced Integrated Network) will be launching it’s services in May 2009. The operator will be deploying a network based on Space Division Multiple Access (SDMA) technology, and that it will focus on rural areas and other places where there is no coverage currently.
Gain was announced as the winner of the mobile phone licence in July 2008.

   

MACRA awards GAIN the cellular sevices license (Malawi)

  • July 23rd, 2008
  • 1:54 pm

Malawi’s Communications Regulatory Authority (MACRA), has finally awarded an individual licence to Global Advanced Integrated Networks Limited (GAIN) to provide cellular telecommunications services in the country.

Gain is the third mobile service provider alongside Celtel Malawi and Telekom Networks, and it is expected that the high cellular charges will be lower with a third competitor on the market.

According to the officials, a new mobile service provider will contribute to the promotion of the development of Information Communication Technologies (ICT) in both urban and rural areas of the country.The company will promote competition in the telecommunications industry, thereby increasing the quality and affordability of the telecommunication services for the benefit of all people in the country.