Britam Holdings Limited (NASE:BRIT) announced a private placement of common shares on September 25, 2017. The transaction will involve participation from Africinvest Fund III, a fund managed by AfricInvest Group 360,888,281 shares at a price of KES 15.85 per share for KES 5,700,000,000, PROPARCO SA Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV, Investment Arm, and Deutsche Investitions- und Entwicklungsgesellschaft mbH. AfricInvest Group signed a share subscription agreement with the company. PricewaterhouseCoopers Limited and Anjarwalla & Khanna will act as the advisor in the transaction. Pursuant to the transaction, AfricInvest Group entered into a subscription agreement with the company and acquired 14.3% stake in the same.