ICON Properties Plc (“ICON” or “Company”) shareholders (“Shareholders”) and the public are referred to ICON Properties Plc’s fully underwritten, Initial Public Offering (“IPO”) for 1,680,000,000 ordinary shares at a subscription price of MK8.75 per share that opened on Monday, 7 December 2018 and closed on Friday, 28 December 2018.

We are pleased to advise the results of the IPO as detailed below:

Numbers of sharesValue (MWK)
Total number of shares on offer1,680,000,00014,700,000,000
Number of shares applied for by the public1,680,056, 18614,700,491, 630
Number of shares allotted1,680,000,00014,700,000,000
Number of shares taken up by underwriters/ sub-underwritersNilNil


All applicants were allotted all the shares they applied for to the extent they complied with the terms of the offer except for the portion of shares which were not in multiples of 1000 as required by the Prospectus. All notifications to shareholders will be sent by 16 January 2019.

We wish to further advise that the shares will be listed on the Malawi Stock Exchange on Monday, 21 January 2019.

On behalf of ICON Properties Plc and all the parties to this transaction, we would like to thank all shareholders and the investing public for favourably supporting the IPO.


NICO Asset Managers
Company Secretary
ICON Properties Plc