The African Export-Import (Afrexim) Bank has recently put across its interest on being listed on the London Stock Exchange (LSE). The Bank is in engagements with JP Morgan, and HBSC who will act as the joint global coordination and book-runners for the potential listing.
The potential listing could be a big boost for the London Stock Exchange’s IPO market as it has recently been reporting a drop in new listings. This has been happening amid the ongoing political uncertainty in the UK.
LSE has recorded a 55% drop in IPO listings as it only had 24 Initial Public Offerings by the end of September 2019.
According to the Afrexim Bank president, Mr. Benedict Oramah, the bank is the epicenter of Africa’s trade which has been growing rapidly.
They are in a strategic position to leverage the existing relationships with the African Union and its 55 member countries as they will provide a platform for trade and investment flows across the continent.
Afrexim Bank was founded in 1993 by a group of African governments and investors. Its main objectives are to facilitate, promote, and expand intra and extra African trade. Since its creation, Afrexim Bank has given over $69 billion of trade financing across 51 countries.