The company has become the first on Malawi Stock Exchange to pass K500 billion market value as share price reached K49 on Wednesday, before coming down to close the day at K47.28.

Trading figures released by Malawi Stock Exchange show the company opened the day with K43 share price and a company value of K473 billion but its share price gain saw it close the day valued K520 billion

The company saw much of the trading for the day as almost 1.5 million shares were traded for slightly over K69 billion. The second most trading activties were at its telecom industry rival, TNM, that had near 995 000 shares traded for K14.9 billion with a share price of K15. The company closed the day valued at K150.6 billion.

There was some minimal trading with the second largest company on the local bourse, National Bank, whose market cap remained at 457.6 billion and the share price of K980 was constant.