ADC to up stake in ABCH

African Development Corporation (ADC) is set to increase its shareholding in Pan-African banking group ABC Holdings (ABCH) when it underwrites the $50 million rights offer due to be voted for by shareholders later this month.

The rights offer will see ADC increase its shareholding to more than 35% if other shareholders do not follow their rights.
The Germany-based investors already hold a 23, 20% stake.

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