Short Takes

Short Takes

·   $300 million

The African Export-Import Bank (Afreximbank) is offering up to $300 million in depositary receipts to private investors to boost capital for lending to industries on the continent, a top executive of the bank said.

The depositary receipts offer investors the same rights as normal shareholders, but issuing them does not come with the same regulatory requirements as issuance of normal shares.

·    N4.81 billion

PZ Cussons Nigeria PLC reported group revenue of N79.63 billion for the full year period ended May 2017 versus N69.53 billion a year ago.

Group Profit before tax came in at N4.81 billion versus N3.1 billion a year ago.

·   $15.8 billion

Foreign investors cut capital flows to emerging market debt and equities in August, reducing inflows to $15.8 billion as investor caution and profit-taking have slowed flows, a survey from the Institute of International Finance revealed on Tuesday.

The reading marked the lowest level of inflows since January’s $13.2 billion reading.

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