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LUSAKA, April 4 (Reuters) – Credit Suisse (CSGN.VX: Quote, Profile, Research) will take a 40 percent stake in Zambia’s Finance Bank Ltd (FBZ), which is looking at listing on the London, Johannesburg and local bourses, a senior bank official said on Friday. 

Finance Bank chairman Rajan Mahtani said in a statement that a partnership with one of the world’s leading wealth management groups will offer good growth prospects for the Zambian bank. 

He gave no financial details and a Credit Suisse spokesman in London declined to comment. 

Mahtani said Finance Bank also planned an initial listing on the Lusaka Stock Exchange and that the bank would later be listed both on the Johannesburg Securities Exchange (JSE) and the London Stock Exchange, but he gave no timeline. 

“Together with our colleagues at Credit Suisse, we will also explore the opportunity to simultaneously list Finance Bank Zambia on the London and Johannesburg Stock Exchanges,” Mahtani said. 

Mahtani said Finance bank also intended to raise 500 billion Zambia kwacha (around $139 million) in a bond issue which would be done before the listing on the Lusaka bourse. He gave no other details. 

Finance Bank has 33 branches and 10 agencies in Zambia. It employs about 600 people and total assets were $280 million, according to the latest annual report. (Additional reporting by Douwe Miedema in Zurich) (Reporting By Shapi Shacinda; Editing by David Cowell) 

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