By Ify Onye InvestAdvocate
Lagos (INVESTADVOCATE)-African Lender, Ecobank Transnational Incorporation (ETI) Thursday listed 2,488,687,783 Ordinary Shares at Nigerian Stock Exchange (NSE) in Lagos Nigeria.
This was contained in a Notice to the NSE and obtained by www.investadvocateng.com.
According to the Pan African Bank, the 2,488,687,783 Ordinary Shares listed is a product of acquisition of Oceanic Bank International Plc by ETI.
About a week ago, ETI announced in a Statement it had obtained a $285 million loan from South Africa’s Nedbank to support it’s acquisition of Oceanic Bank and maintain it’s leadership position in African Lending.
According to ETI, Nedbank will be able to convert the loan into 20 percent (20%) Equity Stake in Ecobank in the next two to three years (2-3 years), which will deepen an ongoing strategic relationship between the two Banks.
Arnold Ekpe, Chief Executive Officer (CEO) of the ETI said by the terms of the alliance agreement, the two Banks have begun to discuss the possibility of integrating more tightly in order to better exploit the obvious synergies in geography, customer base and cultural affinity.
Similarly, Delta State of Nigeria listed N50 billion Delta State 14% Series Bond due 2018.
“Date of Issue September 29, 2011, Date Of Maturity September 29, 2018 Interest Payment Date November 18 and May 18 Coupon 14%, tenour seven years†the Notice said.
