March 24, 2017 / 11:40 AM / 4 months ago

BRIEF-Britam Holdings shareholders approve Shs 3.55 bln investment by IFC

1 Min Read

March 24 (Reuters) - Britam Holdings Ltd:

* Says Co shareholders have approved acquisition of 10. 37 percent stake in the Co by the International Finance Corporation (IFC)

* International Finance Corporation will inject 3.55 billion shillings to buy 224,187,697 million ordinary shares of Britam at 15.85 shillings per share

* Says as a result of acquisition, the issued share of capital of Britam will increase by 11.6 percent

* Subscription is expected to be completed in second quarter of 2017 Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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