By Burnett Munthali
Blantyre Hotels Limited (BHL) has announced the extension of its rights offer deadline to December 20, 2024. Initially scheduled to close today, the extended deadline provides additional time for interested applicants to subscribe.
The rights offer involves the issuance of over 5 billion ordinary shares, each priced at K12.38, which represents a discounted price for investors. The company aims to raise a total of K62.4 billion, which will be used to fund the completion of its four-star, 180-bed golf estate hotel situated at the Lilongwe Golf Club course.
In a statement, BHL explained that the extension was made to allow more members of the general public to participate in the rights offer, particularly those who had not yet subscribed but were interested in doing so.
The extension provides potential investors with an additional window of opportunity to acquire shares in the hospitality company, which is poised to benefit from the development of a luxury hotel that promises to be a major addition to the tourism and hospitality sector in Malawi.
BHL’s decision to extend the offer reflects its commitment to engaging a broader base of investors, with the aim of raising the necessary funds for the timely completion of the golf estate hotel project. This development is expected to boost the company’s capacity, enhance its brand presence, and contribute to the growth of Malawi’s tourism and hospitality industry.
As the new deadline approaches, all eyes will be on the response from investors, with hopes that the extended rights offer will meet its financial target and ensure the successful completion of BHL’s ambitious project.
