Continental Re seeks Botswana listing through $156.1m offer
Continental Reinsurance has launched a public offer valued at $156.1m as it seeks admission to the Botswana Stock Exchange. If successful, the move would make the company the first reinsurer to list on that exchange, according to the supplied report from Punch Nigeria.
Continental Reinsurance has launched a $156.1m public offer as it seeks to list on the Botswana Stock Exchange, Punch Nigeria reported. The proposed transaction is intended to support the company’s effort to become the first reinsurer listed on the exchange. The supplied material does not state how many securities are included in the offer or identify the offer price.
It also does not provide details of the timetable, the investors being targeted or the conditions that must be met before the listing can proceed. The reported value of the public offer is $156.1m. The report describes Continental Reinsurance’s planned admission as a prospective first for a reinsurer on the Botswana Stock Exchange, rather than confirming that the listing has already taken place.
No further information about the company’s ownership, financial performance or the expected use of the proceeds was included in the supplied source material.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.