Security Exchanges

Stanbic IBTC Will Raise N20b Via Rights Issue

Lagos, Nigeria (Capital Markets in Africa) — Stanbic IBTC has announced it has obtained approval to commence rights issue. They will be offering 800,000,000 Ordinary Shares of 50 kobo each at N25.50 per share. The basis for allotment of the rights will be 2 new ordinary shares for every 25 ordinary shares held. The Qualification Date for this Right Issue is today, 10 June 2015. Stanbic IBTC only recently celebrated the listing of its N15.4illion…

Ethiopia eyes bond trading in cautious capital markets opening

Posted on by The Editorial Team

Addis ababa, Ethiopia (Capital Markets in Africa) — Ethiopia is seeking to create a secondary market for local currency Treasury bonds, possibly in a year or so, a move seen as a cautious step towards liberalizing one of Africa’s fastest growing economies. Ethiopia has become an increasingly attractive destination for foreign investors although the government tightly controls what sectors they can invest in. Prime Minister Hailemariam Desalegn said last month that Ethiopia was open to opening…

Egypt bourse to reduce free float required to list on EGX 30

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Cairo (Capital Markets in Africa):- – Egypt’s stock exchange said on Thursday it would reduce the free float required for new companies to list on its benchmark EGX 30, as part of structural changes to the index. Companies previously had to have a 15 percent free float to list on the EGX 30. Under the new rules, which take effect on August 1, firms will be able to join with a minimum 5 percent free float…

Dubai’s Emaar plans to float 13 pct Egypt unit on Cairo exchange

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By Matt Smith DUBAI (Reuters) – Dubai’s Emaar Properties plans to list a 13 percent stake in its Egyptian unit on Cairo’s stock exchange, the largest listed developer in the United Arab Emirates said on Wednesday. The share sale will comprise of a public offering to retail investors in Egypt, plus a private placement to local and international institutions, according to a filing to the Dubai Financial Market. Emaar did not state when the initial…

South Africa, Kenya, Nigeria Plan More ETF Cross-Listings

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Lagos, Nigeria (Capital Markets in Africa):- South Africa, Nigeria and Kenya are planning to cross-list more exchange-traded funds on their stock markets to boost liquidity of the securities, according to the Johannesburg Stock Exchange. “We reached out to East Africa and West Africa,” Tamsin Freemantle, business development manager of the South African bourse, said in an interview May 14 in the Kenyan capital, Nairobi. The JSE is “working closely with those markets to develop this cross…

Mobius: Africa Offers Best Emerging Opportunities

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London (Capital Markets in Africa):- Emerging market guru Mark Mobius tells investors not to be put off by negative headlines – there are plenty of viable growth opportunities in the African stock markets. Emma Wall: Hello and welcome to the Morningstar Investment Conference. I’m Emma Wall and I’m joined today by Dr. Mark Mobius of Franklin Templeton to talk about the opportunities in emerging markets. Hello Mark. Mark Mobius: Hi, how are you? Wall: So…

BRVM Investment Days: West Africa’s financial centre comes closer to the London Stock Exchange

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LONDON, United-Kingdom, April 29, 2015/ — On the occasion of the second edition of the BRVM Investment days, the regional stock exchange for the eight countries of the West African Economic and Monetary Union (WAEMU) and many West-African companies have met investors from the London Stock Exchange. The regional stock exchange Bourse Régionale des Valeurs Mobilières (BRVM) welcomes the success of the second edition of its BRVM Investment days, held on April 28 at the…

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