Total Offered Ordinary Shares

MVR 35.00

Per Ordinary Share

MVR 700

Minimum lot size

MVR 244,125,000

Maximum to be raised

Salient Features of The Offer

Method of Listing

An Initial Public Offering comprising of an Offer for Sale and an Offer for Subscription

Selling Shareholder

Islamic Corporation for the Development of the Private Sector

Number of Shares to be Offered

6,975,000 Ordinary Shares of the Bank offered to the public via an Offer for Subscription and an Offer for Sale, which represents 31% of the Ordinary Shares of the Bank (Post IPO)

Number of Shares Offered for Sale

2,475,000 Ordinary Shares

Number of Shares Offered for Subscription

4,500,000 Ordinary Shares

Share Offer Price per Ordinary Share

MVR 35.00

Amount to be raised

A maximum of MVR 244,125,000/-

Minimum Subscription per Application

Minimum subscription per Application is 20 Ordinary Shares (MVR 700.00). Applications exceeding the minimum subscription should be in multiples of 10 shares


July 28, 2019

Opening of the Subscription List (Offer Opening Date)

September 18, 2019

Closure of the Subscription List (Offer Closing Date)

October 08, 2019

Expected Date of Allocation/Allotment of Offered Shares

October 28, 2019

Expected Date of Refunds

November 06, 2019

Expected Date of Deposit of Allocated/Allotted Shares to Maldives Securities Depository

November 12, 2019

Expected Date of Listing/Commencement of Trading

Collection centers of IPO

  • MIB Head Office

  • IPO Coordiation center (Farmdheyrige, Male')

  • Hulhumale' Branch

  • Kulhudhufushi Branch

  • Thinadhoo Branch

  • Hithadhoo Branch

  • Fuvahmulah Branch

  • Maldives Security Depository (MSD) Head Office

Why Invest in MIB?

  • Attractive dividends.

  • Shariah compliant business.

  • Ownership of a value based bank.

How to subscribe?

MIB Today
as at Q1, 2019

MVR 1.6 bn financing provided
to c. 8,900 customers

MVR 2.9 bn deposits raised
via c. 71,000 customers

Over 400 POS machines covering
many outlets

11 ATMs in selected locations

6 branches in 5 atolls


IPO Coordiation Center, Farmdheyrige, Orchid Magu, Male'




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