MAURITIAN banking group,
The banking group is a shareholder in
Kamben Padayachy, ABL deputy chief executive officer told Standardbusiness that the response to the private placement has been positive.
"We are presently in the book-building phase and investor response has been extremely positive. The exercise will soon be completed and we will announce the results accordingly," Padayachy said.
A book-building exercise refers to the process of generating, capturing, and recording investor demand for shares during the issuance process. In December the bank raised
Padayachy said ABL had followed its rights in the
He said the final shareholding structure would be announced "once the private placement is completed as other investors are also looking at investing in ordinary shares".
ABZL's recapitalisation is set to reach the
The deadline was supposed to have been
The first phase will raise
Padayachy said ABL viewed the new instructions on bank capitalisation as "very positive".
"The banking sector needed more time to reach the
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