Thursday, January 04, 2007

IPO Watch: ZANACO to List 25% Stake on LuSE

The first part of Zambia’s National Commercial Bank (ZANACO) privatization is now complete. The Netherlands’ Rabobank will acquire a 49% shareholding in the company for an undisclosed sum.

(Rabobank is increasing its exposure in southern Africa. It already has a stake in a Tanzanian bank and will shortly be investing in Mozambique.)

When the transaction is finalized, a 25.8% stake of ZANACO will offered on the Lusaka Stock Exchange (LuSE). The Zambian government will maintain a 25% holding.

Founded in 1969, ZANACO is Zambia’s largest consumer bank with 50 branches countrywide and net assets of $384 million. Rabobank would like to see the bank increase expansion into the country’s rural areas.

www.investinginafrica.net

14 comments:

Anonymous said...

Another article on investing in new frontiers.

http://www.post-gazette.com/pg/pp/07004/751255.stm

Notable comments on Kenya Airways. Looks like the management is doing a good job.

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