FirstRand Group has sold 24.99% of FNB Eswatini (www.FNBSwaziland.co.sz) to Emaswati through the Eswatini Stock Exchange. This move demonstrates the Group’s commitment to the local capital market and the development of the Eswatini economy by involving local shareholders.
With this sale, a broad base of Emaswati will benefit, including pensioners, savers, and various entities invested in FNB Eswatini. FirstRand Group retains 75.01% shareholding in FNB Eswatini, emphasizing its continued role in the business.
New shareholders will jointly own 20.00% of the bank, with 4.99% reserved for FNB Eswatini employees through an Employee Trust. The Trust allows employees to have long-term participation in future dividends without directly owning the shares.
After the listing, members of the public can have access to FNB Eswatini’s shareholding when current investors seek to realize the value of their holdings.
The FirstRand Group appreciates its partnership with stakeholders and regulators, not only in Eswatini but in its broader Africa subsidiaries.
Distributed by APO Group on behalf of First National Bank Eswatini (FNB).
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