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- Title
ECOBANK: Massive Issue.
- Abstract
The article reports on the rights offerings of African regional banking group Ecobank intended to raise $2.5 billion to help fund its expansion plans. In addition, Ecobank will also offer shares to new investors on stock exchanges in Ghana, Nigeria, and the West African regional market based in Cote d'Ivoire. Meanwhile, the bank states that the move was the first African rights issue to be run in more than one stock market simultaneously. It also notes that a public offering will enable new investors to buy into the banking group at 29 cents per share.
- Subjects
AFRICA; ECOBANK Transnational Inc.; RIGHTS offerings; SECURITIES trading; BANKING industry; FINANCIAL markets; SEASONED equity offerings
- Publication
Africa Research Bulletin: Economic, Financial & Technical Series, 2008, Vol 45, Issue 8, p17956
- ISSN
2053-227X
- Publication type
Article
- DOI
10.1111/j.1467-6346.2008.01894.x