Malawi Stock Exchange (MSE) – listed FMB Capital Holdings (FMBCH) chairperson Terrence Davidson has hinted that the implementation of the bank’s strategic and transformative actions to grow the institution may see it listing some additional shares as one way of growing its capital.
The bank, which has made some progress in growing its foot print locally and outside, last year acquired from Barclays Bank of Zimbabwe an 81 percent shareholding in Zimbabwe Holdings, bought a 100 percent of the issue share capital of OIBM and merged the operations of its subsidiary Leasing and Finance Company (LFC) with FMB.
Speaking in an interview on the sidelines of the bank’s annual general meeting held at its Learning and Development Centre in Blantyre, Davidson said the bank’s intention remains to augument its capital base through a capital rise, but also cross-listing on another regional stock exchanges.
“We do not have a particular need for the additional shares we want to list on MSE now, but we are a more complicated business than we were in the past and there are many needs that the business has,” he said.
According to Davidson, the bank seeks to issue for cash new ordinary shares up to a maximum of 10 percent of the issued ordinary shares of the company.
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