The FDH Bank plc Initial Public Offer (IPO) for its shares has been oversubscribed as figures show that 1,413,152,144 shares were applied for at a total value of MK14,131,521,437 against 1,380,206,250 ordinary shares that were being offered for a value of MK13,802,062,500, there for representing an oversubscription of MK329 million.

The FDH Bank managing director Dr Ellias Ngalande outlined that in detail, FDH Bank plc shareholding post IPO is that FDH Financial Holdings limited will hold 74.05%; GoM will hold 4.75%, MSB Employee Share Ownership Scheme 1.20% and the general public 20%. Meanwhile, the oversubscription means that over MK329 million will have to be refunded to the general public who made the application for the shares.

Moving forward, FDH Bank’s shares will be listed on the Main Board of the MSE on Monday, 3rd August 2020 at 09.00hrs. FDH Bank Plc was incorporated on 17th May 2007 and was re-registered as a public limited liability company under the Companies Act, 2013 on 3rd June 2020