[quote=the deal]Family Bank is a Kenyan Lender which initially started out as a building society in 1984, Family Bank was converted into a fully-fledged commercial bank on 1st May 2007 and today boosts an asset base of more than Sh20 Billion, has more than 600,000 customer’s, an over Sh11 Billion loan book, 63 branches country wide and over 1000 employees. Family Bank plans to list by way of introduction on 31st of October 2011 on the financial segment of the Nairobi Stock Exchange (NSE), the company is more likely to list at an introductory price of Sh30 valuing the bank at Sh7.3 Billion, the stock currently has 242 Million shares. AfricInvest a Mauritius based private equity (PE) firm bought a 25% stake in Family bank worth Sh1.2 Billion, implying that the private equity firm paid Sh19.8 a share to get the 60.5 Million shares which are equivalent to 25% of Family Bank.

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>interestingly Africinvst paid only 2 bob per share for their 54 mil shares!