Atlas Mara plans more acquisitions in Africa




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LSE- listed Atlas Mara Co-Nvest Ltd (ATMA) has indicated plans to further its acquisition strategy across Africa following re-list of its shares the London bourse after completing two acquisitions and raising $300 in equity.
Atlas Mara yesterday said its 71.9 million shares would be traded under the symbol “ATMA” and its 32.5 million warrants under the symbol “ATMW.”
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The investment firm, created by Ugandan entrepreneur Ashish Thakkar and ex-Barclays CEO Bob Diamond, had stop trading its shares on the London exchange in April while awaiting the acquisition of BancABC and South African Bank ADC.
In December, the investment raised a $325 million from its initial public offering (IPO), funds that were poured into the then potential investments.
It is now looking towards finalizing the acquisition of a 77 percent stake in the commercial arm of Development bank of (DRB), while seeking investment opportunities across Africa’s most attractive markets. Reports suggest Mara is prioritizing West Africa for further opportunities.
Its acquisition of BancABC already provides access to investments in East and Southern Africa, particularly in Botswana, Mozambique, Zambia and Tanzania. (VENTURES AFRICA)
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