FMB eyes dual listing


Financial institution FMB is planning for a dual listing on the Malawi Stock Exchange and Mauritius Stock Exchange, the company has said.

This was revealed during the banks 21st Annual General Meeting in Blantyre, where shareholders questioned board members on developments in Zimbabwe and Mauritius.

Responding to the questions, the bank’s Chairman, Hitesh Anadkat, said a new company, FMB Capital Holdings Limited, which will be the overseer of FMB Group, will be registered in Mauritius as part of corporate restructuring.


Anadkat said once FMB Capital is set up in Mauritius, it will list on the country’s stock exchange.

“The same will happen here, but it means we have to delist FMB as a bank on the Malawi Stock Exchange and replace it with FMB Capital. The dual listing will benefit shareholders as they will be privileged to trade on an international stock market,” Anadkat said, adding that the bank has engaged MSE on the issue.

He further said shareholders are free to do a share-to-share swap.


On why the company opted for Mauritius and not JSE (South African Stock Exchange), Anadkat said it is easier to raise capital in Mauritius.

“It is expensive to raise capital here in Malawi and we thought if we wanted to expand our business in future, we will need to raise capital in a country that we are known with our operations, hence our choice of Mauritius,” he said.

Anadkat further said there is no capital control and taxes in Mauritius which is an added advantage to the business.

He, however, said the Reserve Bank of Malawi will still remain a regulator for the company.

FMB Capital Holdings Limited will be operating in financial services but not as a bank.

Facebook Notice for EU! You need to login to view and post FB Comments!
Show More

Related Articles

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker