Successful Completion of the Rights Issue

On 21 November MPICO Limited successfully completed the largest Rights Issue in Malawian history and the Malawi Stock Exchange, raising K9 billion. Standard Bank acted as the Lead Financial Advisor on the transaction. 

Key transaction highlights include:

- Proceeds have enabled MPICO to repay expensive local currency debt to support the company’s ongoing expansion strategy

- Largest Rights Issue ever in Malawi

- Priced at a 30% premium to the prevailing share price

- MPICO’s share price appreciated 33% during the rights issue process

- Fully subscribed by existing shareholders and underwriters

- The repayment of debt will result in a direct saving of approximately MK2.9 billion in finance costs per annum and significantly improve the company’s distributable reserves thereby enhancing the company’s capacity to pay future dividends to its shareholders. 

- The new 1,149,023,730 shares were officially listed on the Malawi Stock Exchange at a function that took place at the Malawi Stock Exchange premises in Blantyre on 21st November 2016.

Gateway Mall Flea Market took place on 06/05/2017

MPICO organised annual soccer tournament for sports administrators & journalists and also sponsored the uniforms. Why? : in appreciation of the role sports contributes to physical fitness & information dissemination by the media to decision making.

DECEMBER 2015

MPICO Xmass dinner party was held on 4th December at BICC, Umodzi Park, Peermont Hotel. The night was spiced up with various activities. Below are some of the lucky staff members who won various prices.

CONGRATULATIONS!!!

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THE GATEWAY NETBALL BONANZA OFFICIAL LAUNCH IN PICTURE

The Gateway Netball Bonaza was offically opened by Minister of Youth, Sports and Culture Hon. Grace Chiumia MP. Below is the launch in pictures.

1. Dancing queens.

2. Trophy.

3. Dancing queens with tropthy.

4. Hon. Grace Chiumia officially opening the launch.

5. MPICO Chairman Dye Mawindo presenting the trophy to Hon. Grace Chiumia.

6. MPICO Chairman Dye Mawindo making a speech.

7. Hon. Grace Chiumia making a speech.

8. MPICO MD Peter Du Plessis briefing the press.

9. Netball official making a speech