In a move to help further develop the bank’s profile, Finance Bank Zambia (FBZ) has quoted all of its shares with the Securities Exchange Commission (SEC) and has begun the process of listing on the Lusaka Stock Exchange (LuSE).
According to the FBZ Chairman, Dr. Rajan Mahtani, listing on the LuSE will be completed no later than March 31, 2015 and will present new opportunities to both local and foreign investors.
“Having Plc after a business name represents permanence, stability and creditability,” he said, “In this regard, the business is likely to draw more customers, partners and attention from both local and international communities.”
The FBZ launched its services in Zambia in 1986 with just one branch and is projected to end the first quarter of 2015 with 62 outlets and 172 ATMs.
Dr. Mahtani, who spoke at a breakfast meeting to mark the quoting of their shares, indicated that the bank expects to follow-up with their listing on the LuSE with a dual listing on the London Stock Exchange (LSE) before the end of the second quarter this year.