By Mayamiko Phiri
FDH Bank Plc has officially been listed on Malawi Stock Exchange at a colorful ceremony took place in Blantyre on Monday, 3rd August 2020.
On the listing day about 900,000 shares were traded. The price went up to K15 from K10 per share allowing shareholders to register a capital gain of 50 percentage on the first day.
FDH bank managing director, Ellias Ngalande said this is a good development for the bank as now they will have access to the wider investment community.
Ngalande further said this is also an opportunity for Malawians to invest in the bank that has a good future and is home-grown.
In his remarks, Malawi Stock Exchange chief executive officer, John Kamanga said the coming of FDH Bank on the stock exchange market is of great significance to the bank and MSE as well as one of MSE’s objectives is to redistribute wealth to the general public.
FDH bank issued the initial public offer (IPO) from 29th June to 17 July 2020.