Togo: Ecobank Group to Increase Capital Base by U.S.$2.5 Billion
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Republic of Togo (Lomé)
27 August 2008
Posted to the web 27 August 2008
Ecobank Transnational corporated (ETI), which is based in the Togolese capital, Lome, will increase by US$ 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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