Helios to sell half its stake in Equity Bank

Africa focused investment firm Helios is cutting its stake in Equity Bank by half. The private equity fund, the single biggest shareholder of Equity Bank controlling about a quarter of the lender’s shares is selling half its stake in Equity Bank, or 12.22 per cent of the bank’s shares to Norway’s Norfininvest AS.

The transaction, which requires regulatory approvals, will involve the sale of 452.9 million shares at an undisclosed price. Norfininvest is jointly owned by Norfund, the Norwegian Investment Fund for developing countries, and Norfinance AS.