While investors were rejoicing the increase in share price of National Bank whose worth is now at K1.1 trillion, FMB Capital Holdings (FMBCH) share price has dropped significantly, dragging the counter below the K1 trillion market capitalisation mark.
As of Wednesday, the two financial service providers were the only companies with a market capitalization of over K1 trillion.
But after Thursday’s trade, FMBCH share price dropped from K411 to K380 per share, dropping its market capitalisation down to K934.1 billion.
In an earlier interview, MSE Chief Operating Officer, Kelline Kondowe, said most of the times, share prices drop when the demand is high while offers on the market are low.
FMBCH has subsidiaries across the SADC region with First Capital Bank in Malawi.
