FDH Bank plc issues IPO at K10 per share to Malawi public

FDH Bank plc has issued an Initial Public Offer (IPO) to the Malawian public who has a chance to own shareholding of the bank.

Dr Ngalande: The Malawi public has a fantastic opportunity to acquire up to 1,380,206,250 ordinary shares in FDH Bank

Managing Director  for FDH Bank plc, Dr Ellias Ngalande said with the blessing of the Reserve Bank of Malawi(RBM)  and the Malawi Stock Exchange (MSE), the offer period for the IPO opened Monday 29th June 2020 and would close at 5pm on 17th July 2020.

“The Malawi public has a fantastic opportunity to acquire up to 1,380,206,250 ordinary shares in FDH Bank Plc at a very a­ffordable price of MWK10 per share. Post IPO the public will hold a 20% equity stake in FDH Bank Plc,” said Ngalande.

“Opportunities to invest in the financial services sector are indeed rare as the last IPO for a bank on MSE was in June 2007,” said Ngalande.

He said the financial services sector remains one of the most attractive investments on the MSE.

“We have a strong brand, we are market leaders in digital banking, our financial inclusion strategy remains unmatched and we are proud to invite the public to share in our success and excellent growth prospects,” said Ngalande.

He said FDH Bank plc is listing to fulfill a contractual obligation with Government of Malawi (GoM) as part of the MSB acquisition.

“But we also want to raise new capital to further support the Bank’s growth strategy which over the past 5 years has delivered an average growth in revenue of 19.2% per annum. We also want to allow other existing shareholders to dispose of part of their shareholding,” explained Ngalande.

He touted FDH Bank plc as the only financial institution which has financial inclusion at the heart of its growth strategy and also the only bank with a physical presence in 27 districts out of the 28 districts of the country.

“We have invested significantly in digital platforms to support our growth strategy,” said Ngalande.

“We proudly publish our IPO Pre-listing Statement and Prospectus today for further information on the Bank’s overall performance and growth over the years as well as future forecasts.

“The Prospectus and IPO Application Forms are available at the service centres of FDH Bank Plc and Standard Bank Plc across the country, and can also be accessed and downloaded from our dedicated investor page at www.fdh.co.mw/investor,” explained Ngalande.

Follow and Subscribe Nyasa TV :

Sharing is caring!

0 0 vote
Article Rating
13 Comments
newest
oldest most voted
Inline Feedbacks
View all comments
msundwe
msundwe
2 months ago

Dont eveb dare to buy ikupanga ma profit ndalama zakuba ndi DPP. Lero akudziwa kuti Bank iyi ikjonza kutha kapena ikhala ikupereka ma fines migolo migolo ndiye azigulitsa ma shares? Ma share amenewo mukuza nawo musiireni Thom amugule anzache amaba nawo ndalama aja. Ndalama za Covid-19 zinabisidwa kumeneko

China
China
2 months ago

Guys auzeni azibale anu atseke ma account awo ndi fdh bank soon itsekedwa

Namaste
Namaste
2 months ago

If you don’t like losing your money, avoid this IPO like a virus. Govt will be closing all accounts with them soon. Massive tax payer theft operations happened at FDH. Disaster. /ex-employee

Chigwada
Chigwada
2 months ago

I think this is a Malawian bank that hires Malawians. If you let if fail, how do you expect to create those 1 millions jobs promised people. If FDC has been on the wrong side of the law, you punish them financially. Let them pay a penalty. The penalty they pay can be used to finance other projects that can benefit the poor. You can’t be thinking like this. We can also take it and give it to our people.

Kyala
Kyala
2 months ago

This is a reaction to the new government orders that all government accounts with fdh should be closed.

Dpp allegedly abused govt funds through this bank.

NGI
NGI
2 months ago

Pali a few things apa….
– ma judges sanathane ndi bwana.
– dpp wants to offload their shares on the public. Zopusa.
– the guy on the ipo poster is wearing a dpp shirt.
– bank ikugwa iyi.
– Limbani kalilani sanandilipile
– Government ya laz ndi chil’ma don’t own 50% of this bank.
#GhettoYakana

corleone
corleone
2 months ago
Reply to  NGI

HAHAHAHA YOU HAD TO come and write about grin ngi aseh hahahahah

G Zali
G Zali
2 months ago
Reply to  NGI

Uncle Ngi tatambasulani zinakhala bwanji ndi mwana wapa tchire? Tikungoona pa twitter pay Uncle Ngi sitikudziwa zinayambila pati

Nambuma Girl
Nambuma Girl
2 months ago

FDH Bank or I can say the DPP Bank is the Malawi Government Bank. All Malawi Government accounts are there.

Amuna Kudambo
Amuna Kudambo
2 months ago

Bad timing. There is always a big risk with businesses linked to politics! With govt taking away it’s business, a good section of the population avoiding it and founder risking imprisonment … hmmmmm!

Matache
Matache
2 months ago

That link to download the prospectus and application forms is not working

G Zali
G Zali
2 months ago
Reply to  Matache

Musatengeke nanu inu iiiiii

Aka
Aka
2 months ago

Which bank nanunso?

shares
Read previous post:
Standard Bank appoints Malawi’s first female Associate Professor of Law as board chair

Standard Bank plc has appointed the first female Associate Professor of Law at Chancellor College  –  a constituent of the...

Close