The board of directors of FMBcapital Holdings Plc (â€śFMBCHâ€ť or the â€śCompanyâ€ť) is pleased to announce that the Company has raised additional share capital of MK8.54billion (equivalent to US$11.5million) through the issue for cash of 122million ordinary shares to Old Mutual Investment Group Limited and funds under its management. The additional capital raised further augments the Companyâ€™s regulatory capital, will be applied to fund short to medium term growth initiatives across the Group and will solidify FMBCHâ€™s position as a leading banking group in the Southern African Region.
The Malawi Stock Exchange has approved the admission to its Official List of the additional 122million FMBCH shares effective Monday 14 January 2019. The additional shares issued equate to 4.96% of the enhanced share capital of the Company and there has been no change in control of the Company as a result of the issue of these shares. The share issue has increased the free float of public shareholders of the Company and added considerably to the breadth and diversity of its shareholder base.
FMBcapital Holdings, incorporated in Mauritius, has controlling interests in banks operating as First Capital Bank in Malawi, Botswana, Zambia and Zimbabwe and as Capital Bank in Mozambique. The banking group which was founded in Malawi in 1995 as First Merchant Bank has a staff complement in excess of 1,800 people and assets in excess of US$1.1 billion.