Housing Development Finance Corporation Plc

Company Overview Housing Development Finance Corporation (HDFC) Limited was incorporated as a state owned enterprise on 28 January 2004 by a Presidential Decree under the Companies Act, Law No: 10/96. The commercial operations commenced on March 29, 2004. HDFC was established with technical assistance from the World Bank, and initially all shares were held by the Government of Maldives (GOM). HDFC Plc. was registered as a public company on the 9th of February 2006. The HDFC Plc. was privatized with the signing of a shareholders agreement for privatization between the GOM, IFC, ADB and HDFC-Investments Ltd.-India on July 23, 2008. This Public Private Partnership has a joint foreign investment in 51% shares by International Finance Corporation (IFC) of the World Bank Group, Asian Development Bank (ADB) and HDFC Investments Ltd of India. The structure of the shareholding in the privatized HDFC Plc.is as follows: Government of the Maldives 49% International Finance Cor...