BancABC delists

SHARE   |   Sunday, 25 January 2015   |   By Staff Writer
BancABC delists

ABC Holdings shares will be delisted and removed from trading on the Botswana Stock Exchange (BSE) with effect from the 30 January 2015.
According to a public notice from the BSE, with effect from the 30 January 2015 the shares will cease to be listed on the official list of the BSE.  As of the 26 January 2015, ABC Holdings Limited shareholders will no longer be able to trade their shares on the BSE. The final settlement date is the 29 January 2015.
Application was made to the BSE for the shares to be removed from the official list, and for the shares to be removed from trading. The BSE approved the application. The last day of dealings in the shares is 26 January 2015. The final settlement date is 29 January 2015. The cancellation of the listing and of trading in the shares on the BSE is expected to take effect at or about 08:00 on 30 January 2015.
ABC Holdings Limited is the parent company of a number of sub-Saharan Africa banks operating under the BancABC brand.
The Group, which has its head office in Botswana, was formed as a result of a series of mergers and acquisitions of financial institutions operating in Southern Africa. This has given the Group a strong geographical footprint as well as a sound understanding of the diverse financial markets within the region. As a result, BancABC has operations in Botswana, Mozambique, Tanzania, Zambia and Zimbabwe and a group services office in South Africa.
Formed in Zimbabwe in 2000, ABC Holdings is a registered company in Botswana with its primary listing on the BSE. The Group's shareholders include Old Mutual, Botswana Insurance Fund and the International Finance Corporation. Bob Diamond and Ashish Thakkar, a Ugandan businessman - who founded Atlas Mara - are buying banking properties across the continent, which they say offers massive investment opportunities.
Last year Diamond’s Atlas Mara ,which raised more than $320 million (P3.5 billion) in an initial public offering in December last year, bought into ABC. The transaction, which marked Atlas Mara’s first entry into the African banking scene, had a value of about $265m.

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