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TNM’s listing e.g. TNM’s Initial Public Offering (IPO) Press brief July 24 2008.

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Presentation on theme: "TNM’s listing e.g. TNM’s Initial Public Offering (IPO) Press brief July 24 2008."— Presentation transcript:

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2 TNM’s listing e.g. TNM’s Initial Public Offering (IPO) Press brief July

3 What is a listing or IPO (Initial Public Offering)… An IPO is a first offer by a company (TNM) to the general public to acquire new shares in the company (so it is not a sale of shares by existing shareholders). All the proceeds of the IPO accrue to the company itself. Upon successful completion of the IPO the company will list on a Stock Exchange (MSE) and the shares will be freely tradable.

4 Background of the TNM IPO… Reinforces the TNM brand as truly Malawian e.g. 100% Malawian owned Offers equity participation to all Malawians, both institutional and individual Capital raised will be fully used to further develop the TNM network (capacity, quality, services)

5 Motto of the Listing: “Dividends and Growth” Driven by: The quality of TNM’s earnings A commitment to maintain and grow TNM’s market share through ongoing investments (capacity, quality, services) A commitment to enhance shareholder value through dividends and capital growth

6 What will happen… In line with the requirements of the Malawi Stock Exchange and after TNM’s IPO 20% of the total shares will be in free float e.g. held by public shareholders This requirement leads to the issuance of in excess of 1 billion new shares to the public Although value of the shares needs final decision making entry level will be kept low to encourage broad public participation

7 What is expected… TNM’s Initial Public Offering (IPO) will be the single biggest in the history of the Malawi Stock Exchange (MSE) TNM’s IPO will mean the introduction of a new asset class on the MSE TNM’s shares are set to be the most traded

8 When will it happen… TNM’s IPO is expected to take place in Q4 Next steps (July/August/September): Launch of dedicated TNM investors web site Design of the IPO prospectus Underwriting Offer period (October) Shares allocation and distribution (end of October) Listing (early November)

9 When is there more news… Next Press Brief planned for second half of September to discuss in more detail. End of next week: Register on the Stakeholder Relations Section of our website to receive news as soon as it is available, see For now: Thanks for attending!!!


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