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[2008-08-26] New KCB shares start trading after rights issue Trading in KCB Bank’s new shares at the Nairobi Stock Exchange started yesterday after last month’s successful rights issue, as equity analysts projected further gains on the share despite an anticipated dip.
Wielding an additional capital of Sh5.5 billion, KCB’s strengthened balance sheet has enhanced its lending capacity while providing it with ammunition to expand its operations across East Africa.
Despite the expected decline in KCB’s share price on the dilution after the introduction of 221 million new shares, analysts say that the bank’s steady earning’s momentum and growing regional presence promises gains on its share price.
“Regional expansion coupled with KCB’s large network and healthy mix of corporate and retail clients provides a strong financial intermediation fit,” say analysts at investment bank African Alliance.
