AfrAsia Kingdom mulls $50 million rights issue

AfrAsia Kingdom mulls $50 million rights issue
Published: 27 August 2013
Afrasia Kingdom Zimbabwe Limited is planning to raise $50 million through a rights issue as the group seeks to boost underwriting capacity of its flagship banking unit, sources close to the developments have said.

Sources, however, said the financial services group had already approached the Ministry of Indigenisation and Empowerment amid expectations that local shareholders might fail to follow their rights due to liquidity constraints on the domestic market, resulting in a foreign-based underwriter snapping a huge stake of the group.
- newsday
Tags: AfrAsia, Kingdom,

Comments

Latest News

Latest Published Reports

Latest jobs