Friday, 27 June 2008

Zambia’s National Commercial Bank (Zanaco) IPO

The market is still waiting details of the impending sale of the Zambian Governments palns to dispose of the Zambia Privatisation Trust Fund’s 25.8 percent of the ordinary shares ZANACO via an IPO, orgianally slated for next month.

Founded in 1969, ZANACO is Zambia’s largest consumer bank with 50 branches countrywide and net assets of $384 million. Rabobank took a 49% stake in Zanaco earlier this year.

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