Ecobank’s public offer raises $550 million

Ecobank Transnational Incorporated (ETI), raised a total $550 million from a $ 2.5 billion hybrid rights issue and public offer, launched in August last year. The bank which has a subsidiary in Kigali said that shareholding also increased from 7,633 subscribers to more than 140,000 subscribers and that the company raised $150 million during the year in long-term loans from leading international development finance agencies.