CIM Financial Services allocates Rs500million to investors

CIM Financial Services Ltd has just allocated an amount of Rs500 million to investors under its 5 year Rs3 billion Green Funding Programme.

In a communique issued on 14 January, 2022, CIM said the notes will be issued in tranches during Q1 2022 by way of a private placement and in accordance with the ‘Guidelines for Issue of Corporate and Green Bonds in Mauritius’ as issued by the Financial Services Commission.

“These notes have been assigned an ‘AA’ rating by Care Ratings (Africa) Private Limited and will not be listed on the Stock Exchange of Mauritius Limited,” it added.

Meanwhile, CIM also announced that the Listing Executive Committee of the SEM has given its approval to the listing of up to 16,999,998 ordinary shares to be issued upon exercise of the Options under the Employee Share Options Scheme (ESOS) of the Company.

The ESOS permits a maximum dilution of 2.5% of existing shareholders and is subject to approval by shareholders at a Special Meeting of shareholders.