Morgan & Morgan advises Banistmo in US$100-million stock offering

Morgan & Morgan has served as legal advisor to Panama-based Primer Banco del Istmo, SA (Banistmo) in the first US$50-million public offering of cumulative, non-voting 9 per cent preferred shares, each with a face value of US$100.00 in August. Dividends on the preferred shares will be distributed quarterly. The offer was duly approved by and registered before the National Securities Commission of Panama.