NEWS WIRE: Peru: Microfinance Insitution Mibanco Shareholders Agree to Raise $15m Via IPO

Source: Peru Business News.

Original article available here.

LIMA, September 1 – Shareholders of Peruvian microfinance lender Mibanco agreed to raise up to PEN 45 million (USD 15.5 million) 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 PEN 2.194 billion in assets and equity of PEN 209 million as of June 30, 2008, according to financial sector regulator SBS.

Original Source: Business News Americas.

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