Dr. Rajan Mahtani, the Chairperson of Finance Bank Zambia is all set to write a historic moment for his bank. The Finance Bank of Zambia is now known as FBZ Plc, which means that this bank has now entered the status of a well reputed organization in Zambia. Addition of the word ‘Plc’ at the end of any organization means that the organization is stable and permanent in nature.
During 2014, the Finance Bank Zambia was converted into a public limited company which allowed it to access the Stock Exchange. The intent of FBZ is to float 25% of its shares in the Stock Market with an intent to raise USD $ 250 Million. The whole arrangement of listing is being executed under the Securities Exchange Commission (SEC) of Zambia and as per verified sources, most of the obligations have already been fulfilled. Dr. Rajan Mahtani looks forward to meet all the requirements before 31st March, 2015.
Confirmed reports on FBZ suggest that the organization’s capital base is approximately K2.4 billion along with a loan book of K1.4 billion. Market experts believe that FBZ Plc would face no major problems in getting itself listed on the Lusaka Stock Exchange (LuSE) and its probability of getting listed on the Alternative Investment Market (AIM) of the London Stock Exchange is also good. With warmest appreciation for the efforts of Dr. Mahtani, the whole of Zambia wishes FBZ and Mahtani Group of Companies a very happy and a prosperous New Year.