Zenith access banks sell more shares to south african allan gray

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Zenith Bank, a leading Nigerian bank, has announced that it will be selling additional shares to Allan Gray, a South African investment management company. This move is part of the bank's efforts to raise capital and strengthen its balance sheet.

According to reports, Zenith Bank will be issuing 2.5 billion new shares to Allan Gray, which will increase the bank's total issued share capital by 10%. The deal is valued at approximately N150 billion (around $400 million).

Allan Gray is a well-established investment management company in South Africa, with a strong track record of investing in African companies. The company has a significant presence in Nigeria, with a number of investments in the country's financial sector.

The sale of shares to Allan Gray is seen as a positive development for Zenith Bank, as it will provide the bank with additional capital to support its growth plans and expand its operations. The deal is also expected to enhance the bank's visibility and credibility in the global financial markets.

It's worth noting that the sale of shares to Allan Gray is subject to regulatory approvals and other conditions precedent. The deal is expected to be completed in the coming months, pending the necessary approvals.

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