Finance Bank Zambia Planning $250 Million IPO

Finance Bank Zambia
Finance Bank of Zambia - Thabiso Makelo

Finance Bank Zambia Ltd., which is 40 percent owned by Credit Suisse Group AG (CSGN), plans to raise $250 million selling stock on the Lusaka Stock Exchange in October, Chairman Rajan Mahtani said.

The funds will be used to expand to benefit from banking industry growth of more than 30 percent a year, he said in an e- mailed response to questions today. The initial public offering will be followed by an international listing in 2014, Mahtani said in a copy of a speech dated April 23. Finance Bank will list shares in Johannesburg and London, the Lusaka-based Daily Mail said, citing Mahtani.


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