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Afreximbank targets Nairobi’s deep pocket investors with Sh31bn depository receipts offer

http://bdafrica.com
African Export and Import Bank (Afreximbank)on Thursday wooed fund managers and high-net worth individuals in Nairobi to buy into its depository receipts (DRs) through which it is seeking to raise up to Sh30.97 billion by September 22.
The Cairo-headquartered trade financier is targeting between $100 million (Sh10.32 billion) and $300 million (Sh30.97 billion) in the ongoing sale which opened on July 25. This is part of Afreximbank’s plan to increase its capitalization by $1 billion in five years to meet growing demand for funds in Africa.

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