Mibanco shareholders agree to raise up to US$15mn via IPO

Shareholders of Peruvian microfinance lender Mibanco agreed to raise up to 45mn soles (US$15.5mn) via an IPO, the bank told securities regulator Conasev in filing.

Funds will be raised through a public offer of shares and American Depositary Receipts (ADRs).

The shares will be class B, which have no voting rights, the filing said.

Mibanco reported 2.194bn soles in assets and equity of 209mn soles as of June 30, 2008, according to financial sector regulator SBS.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: September 1, 2008

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