TNM Limited successfully concluded a significant IPO in Malawi in terms of shares offered to the general public. Critical review however reveals that little value was transferred to the general public. The shareholders of the company prior to the IPO instituted mechanisms of amassing substantial...

Capital markets are catalysts for economic growth and wealth creation for both investors and investees. Vibrancy of capital markets comes in when demand and supply of capital is high. That is, investors' returns are attractive and the investees' objectives of accessing cheaper capital are met....

Share rights issue is one of the viable means by which public limited companies can raise additional cash at relatively low cost to steer growth or sustainably manage their debts. Minority shareholders can effectively increase equity stake in the situations where they can lobby majority...