KEFI Gold and Copper Plc announced its Ethiopian subsidiary has appointed CBE Capital Investment Bank as adviser for a proposed issuance of U.S. dollar-denominated gold-linked preference shares targeting selected Ethiopian financial institutions.
The announcement took place at the Ethio-British Business Investment Forum in London. The instrument called Gold Preference Shares is designed to support growth in Ethiopia's gold and critical minerals sector and to build ties with major Ethiopian financial institutions.
The shares would be redeemable after an eight-year term and carry an annual 15 percent coupon. Investors would receive an additional return if the gold price received by KEFI exceeds the price at issuance.
Proceeds are expected to fund expansion and future growth initiatives without diluting shareholders at the listed parent company level.