Table of Contents
Key Point
- Hitesh Anadkat’s stake in FMB Capital Holdings rebounds to $200 million, gaining $11.15 million in twelve days due to a surge in share price.
- FMB Capital’s market capitalization exceeds $565 million, with shares climbing 5.86 percent on the Malawi Stock Exchange over the past twelve days.
- FMB Capital shareholders see a 27 percent increase in their investments year-to-date, turning a $100,000 investment into $127,000.
Hitesh Anadkat, one of Malawi’s richest man, has seen the market value of his stake in FMB Capital Holdings rebound to $200 million, thanks to a recent rise in the market value of his holdings in the Mauritius-based investment firm.
According to data tracked by Billionaires.Africa, Anadkat’s stake in FMB Capital has increased by MWK19.33 billion ($11.15 million) over the past twelve days, driven by a surge in the group’s shares on the Malawi Stock Exchange (MSE).
This boost follows a previous decline of $12.21 million in his stake between April 29 and May 10, when it dropped from $202.85 million to $190.61 million.
FMB Capital‘s market soars above $565 million
FMB Capital Holdings, headquartered in Port Louis, Mauritius, operates across several African nations, including Botswana, Malawi, Mozambique, Zambia, and Zimbabwe. The company recently approved a final dividend payout of $10.63 million, bringing the total dividend for FY2023 to $15.79 million, a 32 percent year-on-year increase.
Over the past twelve days, FMB Capital shares have climbed 5.86 percent, from MWK377.87 ($0.22) on July 17 to MWK400.01 ($0.23). This surge has pushed the company’s market capitalization above $565 million, delivering substantial gains to shareholders.
Hitesh Anadkat’s stake gains $11.15 million
Founded by Anadkat in 1995, FMB Capital Holdings has been instrumental in shaping the financial landscape of the region. Anadkat holds a 35.51-percent stake in the investment group, equating to 872,924,575 ordinary shares.
The recent upswing in share price has increased the market value of his stake from MWK329.85 billion ($190.23 million) on July 17 to MWK349.18 billion ($201.38 million), reinforcing his position as one of the wealthiest investors on the Malawi Stock Exchange.
Your Money and Your Life
FMB Capital is among the top performers on the Malawi Stock Exchange, delivering impressive returns to investors since the beginning of the year. Shareholders have enjoyed a 27 percent increase in their investments year-to-date in 2024. A $100,000 investment at the start of the year would now be valued at $127,000, resulting in a profit of $27,000.
