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[2008-08-08] Kenya Commercial Bank Says Sale of New Shares Exceeds Target The east African nation's biggest lender by number of branches, raised 8.1 billion shillings ($122 million) from a share sale, 47 percent more than targeted on strong demand from investors.
The 221.8 million new shares will begin trading on the Nairobi Stock Exchange on Aug. 25, Chairman Peter Muthoka told investors at a briefing in the capital, Nairobi, today. The bank aims to have the shares traded on bourses in neighboring Uganda and Tanzania later this year, he added.