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Browsing: NSE
- TransCentury Group Plc (TC)’s rights issue commenced trading on Thursday morning at the Nairobi Securities Exchange (NSE).
- TC shareholders have until January 23, 2023 to take up 1.87 million new ordinary shares
- The firm is seeking to raise Sh 2 billion which will be directed towards recapitalizing the business, reducing debt and unlocking working capital.
TransCentury Group Plc (TC) shareholders have until January 23, 2023 to take up 1.87 million new ordinary shares as rights issue commenced trading on Thursday (29th December, 2023) at the Nairobi Securities Exchange (NSE).
The infrastructure investment firm is seeking to raise Sh 2 billion which will be applied towards recapitalizing the business, reducing debt and unlocking working capital for TC’s underlying businesses.
TC Group Chief Executive Officer Nganga Njiinu said the company has strengthened its governance structures reassuring shareholders as it strives towards profitability.
“Our shareholders taking up their rights will be investing in …
NSE market update: On Wednesday, Sep 7, investors proved their confidence in Kenya’s new president William Ruto as the Nairobi Stock Exchange (NSE) shot through the roof to record the highest single day raise in over four and a half years.
Local media confirmed the NSE market gained Sh102.6 billion describing the leap as ‘the biggest single-day jump in four-and-a-half years.’ This jump comes in the wake of settling election dust that saw the NSE stumble, fall and now, rise up again.
Sector pundits and political analysts agree that this huge gain is a clear signal of investor’s confidence in the fifth president of Kenya.
In fact, the last time the NSE scored a similar single-day gain was way back in 2018 when there was an almost mirror effect of the political situation. Back then, the NSE market had all but collapsed during the election turmoil but as soon as …
The Kenyan stock market resumed Wednesday following the general election break with a $268 million gain, as early results revealed a close contest involving Deputy President William Ruto and former Prime Minister Raila Odinga.…
Interesting market developments encircled WPP ScanGroup in this review period. The counter’s share price has been on a rally albeit a sharp decline in its bottom line (-1,191.1% y/y) in the just-released FY20 results.
The uptick – that comes after a sequential diminution – is on the back of the exoneration of the suspended senior management that boosted investor confidence given the fact that there was no adverse effect on the counter’s financial performance, position and/or operations linked to the aforementioned. We opine that the rally will continue in the near term to 2Q21 levels as investors accumulate on the earlier exited positions.…
Equity’s operations in the DRC now constitute 28 per cent of the Group by asset size signalling the company’s positive sentiment on the future outlook of the country. By virtue of the acquisition, Equity also became the largest bank by asset size at the Nairobi Securities Exchange (NSE).
Banking penetration in the DRC ranks at the bottom of regional peers, with only 6 per cent of the population holding a bank account. This presents a great opportunity for the Equity Group to leverage on its digital platform and inclusive products to penetrate the market and generate high returns. …
Kenyan-based lender Family Bank Limited has officially rang the bell to mark the listing and the commencement of trading of its corporate bond at the Nairobi Securities Exchange (NSE).
The country’s Capital Markets Authority gave a nod to list the first tranche of its Medium Term Note under the Fixed Income Market Segment at the NSE after a successful offer that raised a total of US$40.6 million against a US27.8 million target, marking a subscription of 147.3 percent.
Early in June, the Authority allowed the mid-tier lender to issue an US$74.1 million multicurrency Medium Term Note (MTN) programme in tranches.
“The response that this bond has generated demonstrates the confidence the market has in the Family Bank brand despite constrained liquidity in the money market as evidenced by the tough economic environment due to the COVID-19 pandemic,” said Family Bank Chief Executive Officer Rebecca Mbithi.
“The capital raised will definitely …
NCBA Group PLC has listed 793.8 million shares on the Nairobi Securities Exchange following the merger of NIC Group PLC and Commercial Bank of Africa Limited (CBA) earlier this month.
The merged entity will trade as NCBA at the NSE. The previously listed entity, NIC Group’s issued and paid up share capital stood at Sh3.5 billion ($$33.77 million) (comprising 703.9 million ordinary shares of Sh5 each ($0.048). NCBA now has a total of 1.49 billion issued shares with a par value of KES 7.45 billion (71.89 million).
NCBA Group PLC officially commenced operations on Tuesday, 1st October 2019 following approval by the Central Bank of Kenya and the National Treasury on 27 September 2019. Shareholders of both institutions had earlier, in April 2019, approved the merger.
Speaking during the bell ringing ceremony to kick of the trading of the new shares, NCBA Group Chairman James Ndegwa, noted that the …
SportPesa was mulling floating an IPO at the Nairobi Stock Exchange (NSE) in 2018 but it has not happened…