Blog Archive

Friday, August 29, 2008

EcoBank Rights+Offering opens...

We thought Safaricom was big... Ecobank's Rights+New Share Offering is 3x Safaricom...

KCB raised Kes 5 billion to fund its Kenyan & regional expansion... while Ecobank is raising almost Kes 175 billion to fund its African expansion... and it is doing so on 3 stock exchanges... Nigeria, Ghana and Ivory Coast.

BTW... Ryan Shen-Hoover of Investing In Africa was quoted... I have blogged on his excellent newsletter. I understand he is working on a local (Kenyan) method of payment for Kenyan subscribers...

3 comments:

bankelele said...

Ecobanks is huge. what they are raising, is the equivalent of the total assets of Barclays (Kenya's largest bank)

can local investors in the three countries fully subscribe the offer? that would be somethign remarakable

coldtusker said...

Yes, investors in almost all of West Africa can subscribe as 'local' investors since BVRM (based in Ivory Coast) is a trans-regional stock exchange.

East Africa is far behind in 'integrated' economies!

OO said...

Someone mentioned to me that they would be interested in buying Ecobank. Is the listing open to Kenya. How goes it?