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Afreximbank closes private placement of depositary receipts

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Afreximbank closes private placement of depositary receipts

African Export-Import Bank said it raised a total of $165.9 million through the private placement of 38,575,018 depositary receipts following closure of the transaction.

The Cairo-based lender said 5,000 depositary receipts have since been listed at the Stock Exchange of Mauritius at an initial price of $4.30 apiece.

Mauritian bank SBM Group acted as lead arranger and depositary of the receipts.