In Summary
  • Afrexim will launch a $300 million (about Sh31.1 billion) equity offering, using depositary receipts backed by its Class “D” shares.
  • This will see it sell part of the multilateral lender to the investing public in a deal arranged by Mauritius financial services firm SBM Group.
  • As a profit-oriented multilateral institution with a mixed public-private shareholder base, Afreximbank focuses on private sector loans, guarantees and advisory services.

Kenyans can now individually own a stake of the African Export-Import Bank (Afreximbank) after the continental trade finance bank opened shareholding to the public.

Afrexim which finances and promotes African trade said it will launch a $300 million (about Sh31.1 billion) equity offering, using depositary receipts backed by its Class “D” shares.

This will see it sell part of the multilateral lender to the investing public in a deal arranged by Mauritius financial services firm SBM Group.

Depositary receipts are certificates that represent ownership interest in a company’s common stock shares, marketed outside of the company’s home country.

“The depositary receipts issuance represents an opportunity for Afreximbank to diversify its shareholder base by enabling investors in Africa and beyond,” said Benedict Oramah, President of Afreximbank.

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