ECOBANK Group to increase capital base by US$ 2.5 billion

27/08/2008
ECOBANK Group to increase capital base by US$ 2.5 billion

Ecobank Transnational corporated (ETI), which is based in the Togolese capital, Lome, will increase by US$ 2.5 billion its capital, thank s to a transaction of the Group's shares officially launched Monday, the Managing

Director Ecobank-Togo, Roger Dah-Achinanon announced..Mr. Da-Achinanon indicated that the shares were about the most important stock e xchange transactions of the year "by virtue of its stature and stakes", specifyi n g that the offer consists of issuing preferential rights of subscription and sal e of 8.880.259.309 ordinary shares.

He added that the offer aims at allowing transnational Ecobank corporated (ETI) to raise additional capital to support its development projects and consolidate i ts growth.

The sales were approved by the regulatory authorities of the financial markets o f Ghana and Nigeria as well as those of the West African Economic and Monetary U nion (UEMOA).

According to the details provided to the press, 3.763.759.981 ordinary shares ha ve been put at the disposal of the shareholders, with each share being sold at t h e price of US$ 0,27; with a share of five new shares for nine old ones held as a t 18 August, while 5.116.499.328 new shares have been offered to the public at th e price of US$ 0,29.

The opffers which opened Monday, 25 August in the Africa area, will last till 3 October.

Established over 20 years ago, Ecobank exists in 25 western, central, eastern an d southern African countries.

 

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