Britam Holdings Limited (NASE:BRIT.O) entered into a subscription agreement for private placement of 224,187,697 shares at KES 15.85 per share for gross proceeds of KES 3,553,374,997.45 with new investor International Finance Corporation on December 30, 2016. The investor will acquire 10.37% stake in the company through the transaction. The transaction is subject to customary conditions including receipt of shareholders’ approval and regulatory approvals.