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Financial News

Nov 2012 Financial News

Bank share offer

Nov 07, 2012

Four months after renaming Barbados National Bank (BNB) the Republic Bank Barbados Limited, the parent company now wants to buy out every share left in the institution, taking 100 per cent control.

It also plans to delist the company from the Barbados Stock Exchange.

This was contained in an offer issued yesterday to Barbadian shareholders in which Republic Bank Limited of Trinidad and Tobago has also given them one month to decide if they would accept the $5 per share offer.

But already some shareholders are grumbling as the offer price is 50 cents less than the current market value of $5.50 on the Barbados Stock Exchange (BSE), where it was among the three securities traded yesterday.

By Geralyn Edward, Business Editor
Nation News
Wednesday November 7, 2012