Qatar National Bank (QNB) buys stock in Ecobank for 2nd time this month becoming top shareholder

Qatar National Bank SAQ, the Middle East’s biggest lender by market value, bought stock in Togo-based Ecobank Transnational Inc. (ETI) for the second time this month to become its top shareholder with a 23.5 percent stake.

The Doha-based lender purchased an additional 11 percent stake in Ecobank for $283 million, according to a statement to the local Qatari bourse today. The bank said Sept. 4 it bought a 12.5 percent stake in Ecobank valued at about $230 million.

Read more: Qatar’s QNB Buys Stock to Become Top Ecobank Shareholder – Bloomberg.