Media firm Standard Group Plc has suspended its previously proposed rights issue after a Special Meeting of its Board of Directors that was held on 4 February 2026. The Board took a decision to suspend the proposed rights issue after taking stock of the prevailing conditions in the market and strategic financing options available.
The suspension of the rights issue does not amount to a total cancellation of the program but rather affords the Board an opportunity to review the company’s funding strategy.
“The suspension is intended to allow the Company additional time to reassess the structure, timing, and viability of the proposed transaction, taking into account evolving market and operational considerations.” – Standard Group Plc Board of Directors.
Rights Issue Targeted to Raise KES 1.5B
The firm, listed at the Nairobi Securities Exchange (Ticker: $SGL) announced in May 2025 that it had secured regulatory approval from the Capital Markets Authority (CMA Kenya) to raise capital via rights issue, following approval by shareholders at its Annual General Meeting (AGM) held on 2nd September 2024.
The rights issue targeted to issue 283,661,120 new shares at KES 5.29 per share aiming to raise approximately KES 1.5 billion. The company aimed to strategically settle existing liabilities, bolster working capital, support organic and inorganic growth, drive its digital transformation efforts, and boost its financial position.
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