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Article: Nigeria: Ecobank s $2.5bn cross border hybrid offer opens today.
- Article from:
- TendersInfo
- Article date:
- August 26, 2008
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Byline: sander03
ECOBANK Transnational Incorporated s $2.5bn cross border hybrid offer opens on Monday. According to a statement by the bank on Saturday, the capital raising exercise, which is the first trans-border initial public offering and Rights Issue in Africa, is expected to be sold simultaneously on three stock exchanges.
They are the Ghana Stock Exchange, the Nigerian Stock Exchange and the Bourse Regionale des Valeurs Mobilieres, the regional stock exchange in Abidjan.
The statement said that the details of the offer showed that ETI would raise the $2.5bn equity through a 3.76 billion rights issue, being offered at $0.27 apiece at a ...