Eye on share swap

Geralyn Edward, Business Editor,

Added 14 November 2012

republicbank

A $48 million cheque from Republic Bank of Trinidad and Tobago may be an interesting prospect but the National Insurance Scheme (NIS) says there is a more valuable prize it might want. NIS chairman Dr Justin Robinson told the MIDWEEK NATION yesterday that his board members were yet to discuss the $5 per share offer from Republic Bank for the 9.70 million shares which the social security body owns in the former Barbados National Bank (BNB). Those shares would be worth $48 million if the NIS accepted Republic Bank’s bid but Robinson said the highly liquid scheme might not be interested in “cashing out” its equity in the local bank. Robinson revealed that the NIS would be very interested in a share swap for a prized stake in the Republic Bank Group which trades on the Trinidad and Tobago Stock Exchange for the equivalent of BDS$36.54 (TT$109.64) per share.

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