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[2008-06-23] KCB’s rights trade at stock market Kenya Commercial Bank (KCB) shareholders who are not willing to acquire their rights have an opportunity to sell them at the Nairobi Stock Exchange starting today.
KCB issued their rights at a ratio of 1:9 at KSH25. The offer consists of about 212 million shares.
This is the second time the bank is using the financing method to raise funds after raising KSH2.45 billion in 2004, in an issue that targeted to raise KSH1.5 billion.
The last day of immobilisation of provisional rights will be June 30 and renunciation by way of private transfer on July 11. The last date for acceptance and payments for the new shares will be July 18, while the announcement for the rights results will be August 8.
Share certificates and electronic crediting of CDS accounts on August 15, while listing and commencement of trading of new shares on August 25.
Housing Finance
The last day for Housing Finance (HF) shareholders to pay for their rights is Friday.
The mortgage company invited shareholders to take up their rights at KSH20 a share at the ratio of one new share for one ordinary share held. The new shares will start trading at the NSE on July 11.
The company is expected to pay a first and final dividend of KSH0.25 on June 30.
