BLANTYRE-(MaraviPost)-In a significant development for the Malawi Stock Exchange (MSE), Standard Bank plc has successfully launched its share split, marking an important milestone not only for the bank but also for the 16-counter exchange.
The event, held in Blantyre, drew large and minority shareholders, MSE officials, market analysts, and business leaders.
Standard Bank plc Chief Executive Phillip Madinga hailed the share split as a reflection of collective vision, partnership, and resilience.
“The share split was driven by high demand for shares of Standard Bank on the Malawi Stock Exchange,” Madinga said, attributing the growth in the bank’s share price to the trust people have in the counter on MSE.
MSE CEO John Kamanga echoed Madinga’s sentiments, emphasizing that the share split has made Standard Bank shares more affordable to shareholders.
“The share split is an important milestone not only for the bank, but also for the 16-counter MSE,” Kamanga said.
Standard Bank Board Chairperson Chris Kapanga highlighted the benefits of the share split, stating that it translates into significant value for both institutional and individual shareholders.
The share split was approved during the bank’s annual general meeting in June, and the split shares were listed on MSE on Monday.
As of the latest trading update, Standard Bank plc shares are trading at K2,410 on MSE.
This development comes after the bank’s proposal to subdivide its shares into five units to enhance trading liquidity and reduce the share price to about K1,900 each.
The share split is expected to encourage participation from new investor groups, including retail investors, corporations, and investment funds.
According to Kapanga, the move will widen the shareholder base and enable more participation from investors who prefer a lower entry cost.
Standard Bank’s listing on MSE dates back to June 29, 1998, when it became the first bank to list on the exchange.
This latest development underscores the bank’s commitment to creating value for its shareholders and contributing to the growth of the Malawian economy.
