The logistics firm is seeking fresh capital from shareholders as it pivots into property development and battles persistent losses.
By
Victor Juma
Business Editor
Nation Media Group
Express Kenya plans to raise additional capital from existing investors by selling 50 million new shares at a price the company says will be disclosed at a later date.
KQ has lowered its fundraising target from $2 billion as it prepares to launch an international search for a strategic investor.
The lender’s issued shares will grow to 1.85 billion from the current 1.66 billion, which will give it a starting market…
The proposed offer price comes after Absa Bank Kenya’s share price had rallied to hit an all-time high of Sh33 before easing to…
The bulk of the lender’s shares are in the hands of the 156 owners who hold above one million units each.
To diversify the shareholder base, the lender has the option of either issuing more shares to a strategic buyer or having key…
The firms have been attracted by the faster pace of economic growth in the East African economy compared to their home market.
