The chairman of Finance Bank Zambia, Dr. Rajan Mahtani, said that Finance Bank is planning to list on JSE (Johannesburg Stock Exchange) and NSE (Nairobi Securities Exchanges). The bank even has plans to list on London’s AIM (Alternative Investment Market).
Rajan Mahtani said plans of offloading twenty-five percent stake on Lusaka Stock Exchange, NSE and JSE had advanced. He said that FBZ was expected to list the shares on LuSE, AIM, NSE and JSE for diversifying the shareholding portfolio of the financial institution and empower the people of Zambia and attract the foreign investors.
He said, “We shall list on JSE, NSE and LuSE by December 31, 2014, and we have arranged with the London’s AIM on the listing on that market.” He said in one of his interviews that Finance Bank has plans of increasing the shares to be offloaded to forty percent and is presently engaging a broker for finalizing the process of listing.
He said, “Finance Bank will initially list a minimum of 25 percent shares and later increase it up to 40 percent. The 25 percent will be offloaded on the various markets and it depends which market will absorb the shares quickly.”
Dr. Mahtani explained that FBZ was expected to invest proceeds in enhancement of the micro-financing as well as lending to the small and the medium scale businesses, a development which will contribute to growth of the small business corporations.
On expansion of the branch, Rajan Mahtani said that the institution was expected to re-open 3 branches in Malawi just the next month spending about ten million US dollars. He said, “The bank’s mission is to expand its footprint and take advantage of the growth opportunities in the sub-Saharan Africa market and we have invested about US$10 million in Malawi. Plans are also underway to enter the Zimbabwean market.”
In the meantime, the chairman Finance Bank Zambia has revealed that PICZ, which is even a part of Mahtani Group of Companies, is highly expected to be quoted on LuSE the next month.
Recently, Zambia Reports published an article announcing their doubts surrounding Dr. Mahtani’s Finance Bank listing plans. There is no need to pay any attention to that article as you can be sure that the plans of Rajan Mahtani will be met. He is a man who always thinks for the betterment of the people and so this time too he will not prove himself wrong. He has promised to do everything within a stipulated time frame but even if he takes some more time none should question because we all know what pain he is going through because of the malicious campaign that has been launched against him-we should all trust him and have faith on him to help him progress the nation financially as well as in all other aspects.
Rajan Mahtani said plans of offloading twenty-five percent stake on Lusaka Stock Exchange, NSE and JSE had advanced. He said that FBZ was expected to list the shares on LuSE, AIM, NSE and JSE for diversifying the shareholding portfolio of the financial institution and empower the people of Zambia and attract the foreign investors.
He said, “We shall list on JSE, NSE and LuSE by December 31, 2014, and we have arranged with the London’s AIM on the listing on that market.” He said in one of his interviews that Finance Bank has plans of increasing the shares to be offloaded to forty percent and is presently engaging a broker for finalizing the process of listing.
He said, “Finance Bank will initially list a minimum of 25 percent shares and later increase it up to 40 percent. The 25 percent will be offloaded on the various markets and it depends which market will absorb the shares quickly.”
Dr. Mahtani explained that FBZ was expected to invest proceeds in enhancement of the micro-financing as well as lending to the small and the medium scale businesses, a development which will contribute to growth of the small business corporations.
On expansion of the branch, Rajan Mahtani said that the institution was expected to re-open 3 branches in Malawi just the next month spending about ten million US dollars. He said, “The bank’s mission is to expand its footprint and take advantage of the growth opportunities in the sub-Saharan Africa market and we have invested about US$10 million in Malawi. Plans are also underway to enter the Zimbabwean market.”
In the meantime, the chairman Finance Bank Zambia has revealed that PICZ, which is even a part of Mahtani Group of Companies, is highly expected to be quoted on LuSE the next month.
Recently, Zambia Reports published an article announcing their doubts surrounding Dr. Mahtani’s Finance Bank listing plans. There is no need to pay any attention to that article as you can be sure that the plans of Rajan Mahtani will be met. He is a man who always thinks for the betterment of the people and so this time too he will not prove himself wrong. He has promised to do everything within a stipulated time frame but even if he takes some more time none should question because we all know what pain he is going through because of the malicious campaign that has been launched against him-we should all trust him and have faith on him to help him progress the nation financially as well as in all other aspects.