Malawian bank FDH Bank to offload 20% of its stake as it plans IPO listing

MALAWI – FDH Bank, a financial service provider, has announced that it will offer 1.38 billion shares at K10 (US$0.013) each through an Initial Public Offering (IPO) in anticipation of listing on the Malawi Stock Exchange (MSE) in August. Speaking at a news conference in Blantyre during the unveiling of a pre-listing statement, FDH Bank managing director Elias Ngalande said the offer represents 20 percent stake in the bank. He said the offer will remain open until July 17, 2020 before announcing results of the offer to the public and…

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