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Malawi Stock Exchange (MSE), which went without any new listing in 2003, has said there are prospects for one listing at the local bourse during the second half of this year.
MSE said in its ‘Annual Performance Review for 2003’ that the expected listing is part of the privatisation programme undertaken by the Government of Malawi and would bring the number of listed counters to 10.
However, MSE could not disclose the company but late last year National Investment Trust Limited (NITL), Malawi’s first collective investment scheme and a baby of the Privatisation Commission, said it is awaiting approval from Reserve Bank of Malawi (RBM) and MSE to list.
Loita Investment Bank Limited would have listed in the last quarter of 2003 but failed, opting for a private offering.
Currently, companies listed on the MSE are Blantyre Hotels Limited (BHL), Stanbic Bank, National Bank of Malawi (NBM), Nico Holdings Limited, Press Corporation Limited, Packaging Industries (Malawi) Limited (PIM), Sugar Corporation of Malawi Limited (Sucoma), Sunbird Tourism and Old Mutual plc.
In the report, MSE said for the period January 1 to December 31, 2003, the market transacted a total of 181,872,236 shares at a total consideration of K808,035,640.55 (US$8,712,401.19) in 290 deals.
MSE said this was against a total volume of 31,602,923 shares at a total turnover of K258,848,690.18 (US$3,532,444.78) in 651 deals in 2002.
“This reflects a robust performance by an increase of 475.5 percent in terms of share volume and 212.2 percent in terms of share value in Malawi kwacha and 146.6 percent in US dollar terms,” says the report in part.
In terms of trading by period, MSE said the first half of 2003 registered the biggest share trade of 141,892,201 shares at a total consideration of K592,337,872.05 (US$6,543,898.37) against 39,980,035 shares at a turnover of K215,697,768.50 (US$2,168,502.82) traded in the last half of the year.
The MSE report mentions Sucoma as the most traded counter in 2003 with a trade volume of 122,994,750 shares accounting for 67.63 percent while BHL was the least traded counter with 60,280 shares out of 181,872,236 traded shares, accounting for 0.03 percent.
In 2002, NBM was the most traded counter with PCL as the least traded one.
On the other hand, Nico was the highest price gainer in 2003 with a 112.5 percentage points price increase from an opening share price of K0.40 to year-end closing price of K0.85 per share.
During the year, the Malawi All Share Index (Masi), an indicator of average price movement of all counters, increased from 313.40 points registered in January to 457.27 points at December 31, 2003 giving an annual return on index of 45.91 percent.
“The average return on index of 46 percent is a superior reflection of stock market investment over other financial instruments during the year 2003,” said MSE, attributing the development to high returns in some of the listed counters such as Nico and Old Mutual.,
Malawi Stock Exchange (MSE), which went without any new listing in 2003, has said there are prospects for one listing at the local bourse during the second half of this year.
MSE said in its ‘Annual Performance Review for 2003’ that the expected listing is part of the privatisation programme undertaken by the Government of Malawi and would bring the number of listed counters to 10.
However, MSE could not disclose the company but late last year National Investment Trust Limited (NITL), Malawi’s first collective investment scheme and a baby of the Privatisation Commission, said it is awaiting approval from Reserve Bank of Malawi (RBM) and MSE to list.
Loita Investment Bank Limited would have listed in the last quarter of 2003 but failed, opting for a private offering.
Currently, companies listed on the MSE are Blantyre Hotels Limited (BHL), Stanbic Bank, National Bank of Malawi (NBM), Nico Holdings Limited, Press Corporation Limited, Packaging Industries (Malawi) Limited (PIM), Sugar Corporation of Malawi Limited (Sucoma), Sunbird Tourism and Old Mutual plc.
In the report, MSE said for the period January 1 to December 31, 2003, the market transacted a total of 181,872,236 shares at a total consideration of K808,035,640.55 (US$8,712,401.19) in 290 deals.
MSE said this was against a total volume of 31,602,923 shares at a total turnover of K258,848,690.18 (US$3,532,444.78) in 651 deals in 2002.
“This reflects a robust performance by an increase of 475.5 percent in terms of share volume and 212.2 percent in terms of share value in Malawi kwacha and 146.6 percent in US dollar terms,” says the report in part.
In terms of trading by period, MSE said the first half of 2003 registered the biggest share trade of 141,892,201 shares at a total consideration of K592,337,872.05 (US$6,543,898.37) against 39,980,035 shares at a turnover of K215,697,768.50 (US$2,168,502.82) traded in the last half of the year.
The MSE report mentions Sucoma as the most traded counter in 2003 with a trade volume of 122,994,750 shares accounting for 67.63 percent while BHL was the least traded counter with 60,280 shares out of 181,872,236 traded shares, accounting for 0.03 percent.
In 2002, NBM was the most traded counter with PCL as the least traded one.
On the other hand, Nico was the highest price gainer in 2003 with a 112.5 percentage points price increase from an opening share price of K0.40 to year-end closing price of K0.85 per share.
During the year, the Malawi All Share Index (Masi), an indicator of average price movement of all counters, increased from 313.40 points registered in January to 457.27 points at December 31, 2003 giving an annual return on index of 45.91 percent.
“The average return on index of 46 percent is a superior reflection of stock market investment over other financial instruments during the year 2003,” said MSE, attributing the development to high returns in some of the listed counters such as Nico and Old Mutual.
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