Aga Khan Fund increases its stake in KICB Bank
The Aga Khan Economic Development Fund has bought out the shares of three shareholders of the Kyrgyz Investment and Credit Bank (KICB). The Kyrgyz Stock Exchange reported.
The financial institution acquired 2 percent of shares from the International Finance Corporation (IFC), the German Investment and Development Corporation (DEG) and the European Bank for Reconstruction and Development (EBRD).
As a result, IFC, DEG and the EBRD no longer have shares in KICB, and the Aga Khan Fund holds 72 percent of the shares. Another 18 percent of the shares belong to Habib Bank Limited, 10 percent — to the State Property Management Agency.
Distribution of shares between shareholders was made as part of the phased sale of shares in accordance with the general agreement for the sale and purchase of shares dated December 14, 2017.
