Proshare Logo
   Market Date: 24-10-2014   
Agriculture All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

ETI seeks to extend offer to Cameroon

Category: Public Offers Private Placements


  Read (760)
ETI seeks to extend offer to Cameroon

-To list on Kenyans Stock Exchange

 

PETER OBIORA

Proshare NI

September 03, 2008 at 15:43 GMT

 

Ecobank Transnational Incorporated (ETI) is seeking to extend its on going offer to Cameroon. This was confirmed to Proshare NI by a source at the Media Parley with ETI Management in Lagos Nigeria.

 

The source confirmed to Proshare NI that ETI has approached the Central Bank of Cameroon to offer its shares to members of the investing public in that country.

 

Proshare NI gathered that the offer may open in a few days time in that country as all approvals has been received in respect of this.

 

“All has been concluded as to this regard and ETI may open the offer in a few days time in Cameroon” the source affirmed.

 

The source further affirmed that ETI would also open a branch in Cameroon in order to operate in that country.

 

 In the same vein, the source also affirmed that ETI is seeking to do a post offer listing on the Kenyan Stock Exchange in order to use that as a way to penetrate the East African Market.

 

Though as at the time of filling this report Proshare NI could not gather more details in respect of the above.

 

However, at the media parley a document that was made available to Proshare NI; shows some key investment considerations to be made by investors in buying the hybrid offer; which ETI rolled out.

 

These include, good dividend history, dividends to be paid in United States Dollars (US$), phenomenal capital gains since listing its shares in 2006 on the Floors of the Nigerian Stock Exchange (NSE) by over 122 percent.

 

Others are strong African brand, listed in three Stock Exchanges; which are Nigeria, Ghana and Ivory Coast amongst others.

 

ETI on August 25, 2008 opened a cross boarder $2.5 billion (N292.5 billion) hybrid offer.

 

The Pan African Bank is offering by way of Rights Issue 3,763,759,981 Ordinary Shares of US$0.025 each at US$0.27 per share in ratio of five new shares for every nine existing shares held.

 

And offer for subscription of 5,116,499,328 Ordinary Shares of US$0.025 each at US$0.29 per share.



Tags: , 



Comment With Your Facebook or Yahoo! ID


Latest news


News on Public Offers Private Placements

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Newsletter
Contact Us
Volunteer Program
Message from CEO
Resources

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
WebTV
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

#1minNews
News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Newsletters
Discussion Forum
Policy

Subscriber Agreement
Privacy Policy
Data Policy
Disclaimer
Copyright Policy
Trademarks
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Training
Legal Support Services
Web/Technology Services
File a Complaint