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International Finance Corporation (IFC) is going to acquire a 10.37% stake from Britam’s group capital for the amount of 3.5 billion KES (34.8 million USD), a move that is submitted to the approval of shareholders and authorities. More than 224 million new ordinary shares will be issued, which is likely going to dilute shareholders’ stakes by 10.37%.
This investment comes after the fall of the insurer’s share prices.
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