Capitec launches $100m ABB

31 Oct 2011

Capitec Bank, a fast-growing $2.5bn market capitalisation South African bank, on Monday launched a capital raise for 4.91% of its existing share capital through an accelerated bookbuild being run by Bank of America Merrill Lynch.

The Johannesburg-listed lender — which carried out a R1.05bn ($146m) rights issue in January — plans to use the new funds to expand while meeting regulatory capital requirements.

Capitec is selling 4.6m new shares, just 4.68% of its expanded share capital, but investors marked the stock down 4.21% to ...

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