KEFI Gold and Copper Plc has announced that its subsidiary, KME Minerals (Ethiopia) Holding S.C., has appointed CBE Capital Investment Bank as adviser for a proposed issuance of U.S. dollar-denominated, gold-linked preference shares aimed at selected financial institutions in Ethiopia.
The announcement was made at the Ethio-British Business Investment Forum in London. According to the company, the proposed instrument — dubbed “Gold Preference Shares” — is intended to support growth in Ethiopia’s gold and critical minerals sector while also strengthening ties with major Ethiopian financial institutions.
KEFI said the preference shares would be redeemable at the end of an eight-year term and would carry an annual 15 percent coupon. Investors would also receive an additional return if the gold price received by KEFI exceeds the price prevailing at the time of issuance.
The company said the proceeds are expected to support expansion opportunities and future growth initiatives, with no dilution for shareholders at the listed parent company level.
