Airtel Malawi Plc, which listed on the Malawi Stock Exchange (MSE) this week, became the first digital IPO as it transacted, among other platforms through mobile money.

The IPO's lead advisor Standard Bank of Malawi applauded the Reserve Bank of Malawi for accommodating several transaction platforms during the offer.

Enock Kondowe, Standard Bank's head of investment banking, said there are now 8031 shareholders - meaning, 20% of Airtel Malawi is now in the hands of the Malawian public.

"More than fifty percent, which is precisely 4573 applicants, applied through mobile money facilitated by Airtel Mobile Money," said Kondowe.

Airtel Malawi Plc, with the share code AIRTEL, now becomes the fifteenth counter and second telecommunications company on the bourse and makes it the largest IPO in the history of Malawi.

Airtel Malawi Managing Director Charles Kamoto said the listing was the culmination of a year-long process.

"I also wish to welcome the new shareholders of Airtel Malawi to the family. As previously outlined, we are optimistic about the outlook for the telecommunications industry and believe we are well positioned to benefit from the attractive growth prospects in the sector, which we hope will benefit our shareholders in the long term," he commented.

Kamoto added that through the years, the mobile company has consistently invested in its infrastructure and has now a network that covers 85% of the country, and is "the widest 3G and 4G network in the country."

"Fibre is also being deployed in key routes and cities," he said. "Together with data availability, this will benefit consumers given the growing demand for data services driven by lifestyle changes and the increasing use of smartphones."

The company's listing is aligned to the Communications Act of 2016 and provides an opportunity to deepen Malawi's capital markets through providing an additional avenue for investment.

John Kamanga, chief executive officer of the MSE said the listing is "the biggest IPO yet to be delivered on the MSE since inception in 1994."