Pangaea News
Pangaea Sells Its Ownership Stake in Zambian Stock Broker (October 2010)
Pangaea Partners, Ltd. announced that it has sold its stake in Zambian stockbroker Pangaea Renaissance Securities Limited. This sale marks the end of Pangaea’s fifteen year involvement in the Zambian capital markets. [click link above to read entire press release]
Renaissance Capital Takes Stake in Pangaea/EMI Securities (July 2008)
Pangaea Partners, Ltd. announced that it and other shareholders have sold a minority equity stake of 49% in Pangaea/EMI Securities, the leading investment broker and financial advisory services firm in Lusaka, Zambia, to Renaissance Capital, a specialist in high opportunity emerging markets. [click link above to read entire press release]
Celtel Zambia $200 million IPO Completed Successfully (June 2008)
Shares of Celtel Zambia Plc, the country’s largest cell phone company, began trading today on the Lusaka Stock Exchange and rose 13% in first day trading. .... Joint Lead Managers for the IPO were Standard Bank of South Africa and Pangaea Renaissance Securities. The latter is an affiliate of Pangaea Partners, Ltd. an investment banking firm founded in Madison, Wisconsin in 1989 to focus on emerging markets. [click link above to read entire press release]
Zambian Market up 6% in 2000 While U.S. DJIA Falls 6% and Nasdaq Falls 39% (January 2001)
Pangaea/EMI Securities, the largest stockbroker in Zambia and an affiliate of Pangaea Partners, announced that the Lusaka Stock Exchange rose 6.08% in US Dollar terms in 2000. In local currency terms, the rise was 56.3%. The year's gains illustrate the benefits of diversification: the small Zambian market outperformed the U.S. markets in 2000. The gains also illustrates the improvement underway in Zambia since the Government's sale earlier in the year of the largest company in the country, Zambia Consolidated Copper Mines (ZCCM). [click link above to read entire press release]
Farmers House Bond Issue a Success - Pangaea Advising on the Issue (December 2000)
Pangaea/EMI Securities, the largest stockbroker in Zambia and an affiliate of Pangaea Partners, announced that in the first ever corporate debt issue by a company listed on the Lusaka Stock Exchange, Farmers House PLC, a property investment, management and development company raised US$ 1.0 million for the second phase of the company's plans to develop its flagship property at the corner of Church and Cairo Roads in central Lusaka. [click link above to read entire press release]
Dutch-Bangladesh Bank Going Public - Pangaea Advising on the Issue (December 2000)
Pangaea Partners (BD) Limited, a licensed merchant bank in Bangladesh and an affiliate of Pangaea Partners, announced a private placement and public issue of shares for Dutch-Bangla Bank in Dhaka, Bangladesh. [click link above to read entire press release]
Partner at Pangaea Appointed Chairman of U.S. Eximbank Advisory Committee on Africa (July 2000)
Pangaea Partners announced that its founder and one of its Partners, Eric G. Postel, has been appointed Chairman of the ten member Sub-Saharan Africa Advisory Committee (SAAC) of the Export-Import Bank of the United States (Ex-Im Bank). [click link above to read entire press release]
Zambia Breweries Commences Rights Issue - Pangaea Advising on the Issue (July 1999)
Pangaea/EMI Securities, the largest stockbroker in Zambia and an affiliate of Pangaea Partners, announced that it has been selected by South African Breweries ("SAB") and its 90% owned subsidiary Zambia Breweries ("ZBrew") to launch a rights issue on behalf of ZBrew. Zbrew is listed on the Lusaka Stock Exchange and has a current market capitalization of about $25 million. It is the largest brewer in Zambia. [click link above to read entire press release]
Pangaea Partners Selected to Advise Turkish Bank on Asset-liability Management (March 1999)
Pangaea Partners announced that it has been selected by a privately-owned Turkish bank to advise on asset-liability matters. Turkish banks continually face high rates of inflation and their treasury operations constantly seek to manage the resulting risks. Pangaea's work will focus on risk assessment, risk reporting and risk controls. [click link above to read entire press release]
Partner at Pangaea Appointed to U.S. Eximbank Advisory Committee on Africa (March 1999)
Pangaea Partners announced that its founder and one of its Partners, Eric G. Postel, has been appointed to the eight member Sub-Saharan Africa Advisory Committee (SAAC) of the Export-Import Bank of the United States (Ex-Im Bank). The Committee was established by the U.S. Congress to advise the Ex-Im Bank on the development and implementation of policies and programs designed to support the Ex-Im's financial commitments in sub-Saharan Africa. [click link above to read entire press release]
Government of Zambia and Zambian Institute of Bankers Select Pangaea Partners to Train Bankers (October 1998)
Pangaea Partners announced that the Government of Zambia and the Zambian Institute of Bankers have retained Pangaea to train Zambian bankers. As such, a team of Pangaea personnel will present ten-week long courses in long-term lending and trade finance to more than forty Zambians from more than six different banks. In addition, the firm will be providing specialized seminars on a variety of other topics to senior managements of local banks. Pangaea's contract is funded via a World Bank loan to the Republic of Zambia. [click link above to read entire press release]
Ghana Stock Exchange Selects Pangaea Partners to Upgrade Training Programme for All Participants in Ghana's Securities Market (February 1998)
Pangaea Partners announced that the Ghana Stock Exchange has retained Pangaea to help upgrade the training programmes used in the Ghanaian securities market. As such, Pangaea will be working with the Exchange to upgrade existing courses offered to stock brokers, fund managers, issuers and other personnel. In addition to upgrading existing training courses, Pangaea will be developing new courses. Pangaea's contract is funded via a World Bank loan to the Government of Ghana. [click link above to read entire press release]
Garanti Bank in Turkey Selects Pangaea Partners to Work on Development of New Credit Systems (February 1998)
Pangaea Partners announced that Garanti Bank of Turkey has selected Pangaea to help Garanti develop new credit systems suitable to the evolving Turkish banking environment. The work is designed to facilitate Garanti's commercial lending operations. [click link above to read entire press release]
Lusaka Stock Exchange Gains 83% in 1997 With Pangaea Leading the Way (January 1998)
Pangaea Partners (Zambia) Limited pointed out that the Lusaka Stock Exchange has gained 104.4% in local currency (Kwacha) terms between January 2, 1997 and December 31, 1997. At the same time, the currency weakened 11.6% from Kw 1,320 to Kw 1,453 during the year. Thus, in U.S. dollar terms, the market was up 83.2% — one of the best gains in the world. Although a minuscule market, with total market capitalisation of US$980 million, the gains make the Lusaka Exchange one of the world's top gaining markets in 1997. [click link above to read entire press release]
Pangaea Partners Forms Joint-venture in Bangladesh: Awarded Merchant Banking License by Bangladesh Securites & Exchange Commission (September 1997)
Pangaea Partners announced that it has formed a joint-venture in Dhaka, Bangladesh, named Pangaea Partners Bangladesh, to create a full-service merchant bank. The joint-venture is one of the first 19 firms awarded merchant banking licenses by the Bangladesh Securities and Exchange Commission, and only one of three with international partners. [click link above to read entire press release]
Pangaea Mandated to Serve as One of Two Lead Brokers for Sale of Government Stake in Zambia Sugar (August 1996)
Pangaea Partners (Zambia) Limited announced that it has been selected to serve as one of two lead stockbrokers for the sale of the Government of Zambia's and the Commonwealth Development Corporation's 329 million shares (6.06% of the total outstanding) in Zambia Sugar Plc (ZSUG). [click link above to read entire press release]
Pangaea Partners Advises Major Turkish Bank on Financial Sector Investments in the Former Soviet Union (August 1996)
Pangaea Partners announced that it has signed a Agreement with Demirbank A.Ş., one of Turkey’s leading private banks. Under the agreement, Pangaea will assist Demirbank to establish new banks and/or invest in existing banks in the former Soviet Union. Pangaea’s involvement will also be long-term, providing support in managing the banks after their establishment in partnership with Demirbank. [click link above to read entire press release]
Pangaea Partners Announces Presence on World Wide Web (May 1996)
Pangaea Partners announced that it has established a site for business and financial information on selected emerging markets on the World Wide Web (WWW). The information can be accessed on the WWW at http://www.pangaeapartners.com. [click link above to read entire press release]
Madison Financier Speaks at Association of African Stock Exchanges Annual Meeting in Mauritius (November 1995)
Eric G. Postel, a Principal of Pangaea Partners, was recently one of only two people from the United States invited to speak at the third annual meeting of the Association of African Stock Exchanges ("ASEA"). Mr. Postel's speech was entitled "The Development of African Capital Markets: The Role of Merchant Banking in Africa" and it focused on the need for African countries to develop their domestic merchant banking capabilities. [click link above to read entire press release]
Pangaea and Barclays Bank Mandated to Handle Sale of Government’s Stake in Rothmans Zambia (October 1995)
Barclays Bank Zambia and Pangaea Partners (Zambia) Limited announced that they are handling the sale of the Government of Zambia's 30.2 million shares (18.75% of the total outstanding) in Rothmans of Pall Mall (Zambia). [click link above to read entire press release]
Pangaea Partners announced that it has formed a joint-venture in Lusaka, Zambia. The firm, Pangaea Partners (Zambia) Limited, is a full-service investment bank. The firm's securities subsidiary has been licensed by the Zambian Securities and Exchange Commission as a Securities Dealer and has been admitted for membership in the Lusaka Stock Exchange. [click link above to read entire press release]
Lusaka Stock Exchange Commences Operations in World Record Time (February 1994)
Pangaea Partners announced that Zambia's first stock exchange, the Lusaka Stock Exchange ("LuSE"), opened unofficially yesterday for the reporting of trading. [click link above to read entire press release]
Zambian Securities Law & Regulations Come into Effect (December 1993)
Pangaea Partners announced that the Government of Zambia has put a new securities regulatory regime into effect this week. Pangaea has been leading the project to create the regulatory regime and the Lusaka Stock Exchange. The new regime consists of the Securities Act of 1993, a Zambian securities regulatory agency, called the Securities and Exchange Commission, and series of ten regulations covering licensing of brokers, registration of securities, takeovers, conduct of business, collective investment schemes and other securities matters. [click link above to read entire press release]
Pangaea Partners Selected By Zambia to Lead Team of Consultants for Creation of Stock Market (June 1993)
Pangaea Partners announced that it has been selected by the Government of the Republic of Zambia to be the manager of a project which will create a stock exchange and a government securities regulatory agency in Lusaka, Zambia. [click link above to read entire press release]
Pangaea Partners Awarded African Development Bank Consulting Contract (December 1991)
Pangaea Partners announced that it was awarded a consulting contract by the Treasurer of the African Development Bank (ADB) in Abidjan, Cote D'Ivoire. The project entails creating a system for monitoring the risks associated with placing funds on deposit with African banks. It is expected to take four months. ADB received funding for the project from the United States Agency for International Development (USAID). [click link above to read entire press release]