FDH Bank plc has hit the K1.9 trillion market capitalisation mark on the Malawi Stock Exchange (MSE), becoming the second most valuable company after National Bank of Malawi (NBM) plc.
This data from MSE means the company’s capitalisation almost doubled in four months since the bank attained a K1 trillion market capitalisation.
Thus, following the listing of the firms four years ago, it has added K1.83 trillion to its market capitalisation after an initial public offer of K60 billion.
In an interview, minority shareholders association of listed companies’ secretary general Frank Harawa said the capitalisation jump is a significant indicator of the strong performance and continued growth of the company.
“As shareholders, this is good news. It shows that the business is well positioned for growth and this guarantees shareholders of maximum return because it shows that even the share price will continue gaining looking ahead,” he said.
Meanwhile, FDH Bank plc says it is still negotiating with an African bank to acquire a controlling stake a month after issuing a cautionary statement to shareholders on the same.
“Further to the statement dated 2nd January 2025, the directors of FDH Bank plc wish to advise the public that negotiations are still underway on the acquisition of a controlling stake in a bank within the Africa region.
“The outcome of the negotiations may affect the share price of FDH Bank plc, and as such, shareholders are advised to exercise caution and should consult their professional advisers when dealing in the shares of the company,” reads the statement by company secretary Juliano Kanyongolo.
FDH plc head of marketing and communications Levie Nkunika had earlier attributed the milestone to the bank’s growth trajectory, saying: “The bank has been resilient and strategic in its approach towards competitiveness.”
Other companies that surpassed K1 trillion capitalisation are Standard Bank plc, FDH Capital Holdings plc, NBS Bank and NBM plc at K2 trillion, all in the banking sector as Airtel which earlier reached the feat dropped to K924 billion.
FDH Bank share value gained by 85 percent in January from K148.23 to K274.52 per share.
