Cairo based trade financier, Africa export and import bank has offered high net worth individuals in Nairobi by offering them up to Sh.31 Billion.
They intend to do this expansion by 22 September, 2017. This move is in line with the financiers aim to raise its capitalization to one billion dollars within 5 years.
The lender intends to open its shareholding to the public who will own class D shares.They explained that depository receipts are instruments that companies use to raise capital in other jurisdictions without the physical listing of shares on a an exchange in that jurisdiction.
The depository receipts will go for Sh. 443.93 per unit and individuals will need to buy a minimum of 10000 units to own class D shares.
Kenya is the third country that a similar launch has been done. Other countries include Nigeria and Mauritius.
CBA Capital who are the co transaction adviser C.E.O Kathrine Nyamu said she expects interests from targeted domestic investors.
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