Republic: $5 it is
By Geralyn Edward, Business Editor | Tue, November 20, 2012 - 12:06 AM
IT WILL BE $5 PER SHARE AND NOT A CENT MORE for investors in the former Barbados National Bank (BNB), now renamed Republic Bank Barbados.
This is the latest development in Republic Bank Limited’s attempt to grab 100 per cent control of the former state-owned BNB whose shares are valued at $5.50 on the Barbados Stock Exchange.
Some shareholders are unhappy with the offer from the Trinidad and Tobago-headquartered regional bank.
But Republic Bank, which also owns subsidiaries in Grenada and Guyana, has now made it clear that it regards $5 per share as a “premium price” despite being 50 cents less than the traded price.
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