|Day's Range||553.44 - 557.30|
|52 Week Range||552.48 - 777.45|
|PE Ratio (TTM)||-30.43|
|Dividend & Yield||13.07 (2.34%)|
|1y Target Est||N/A|
Bob Diamond has agreed to sell more than a third of Atlas Mara, the vehicle he created to invest in African banks, to the Canadian life insurer Fairfax Financial at an 80 per cent discount to its 2013 ...
Bob Diamond’s African investment vehicle Atlas Mara said it is raising US$200m from Fairfax Africa and existing shareholders to kick-start the bank after a tough three years since listing. Atlas Mara, which has been buying up banking assets with the aim of becoming the leading bank in Africa, plans to sell US$100m of new shares to Fairfax Africa and existing investors, and sell US$100m of mandatory convertible bonds to Fairfax. Fairfax Africa will invest at least US$130m and up to the full US$200m, which will give it a stake of between 35% and just below 50% in Atlas Mara.
India's ICICI Bank Ltd and Canada's Fairfax Financial Holdings Ltd will pare their stakes in joint venture insurer ICICI Lombard General Insurance Co Ltd's planned initial public offering (IPO) of shares, the insurer said on Monday. While the size and other details of the IPO will be decided at a future date, ICICI Lombard said the two shareholders in the company had informed it of their intention to sell part of their holdings by way of an offer for sale. ICICI Bank owns 63.3 percent of ICICI Lombard, the largest private sector non-life insurer in India.