Express Kenya Limited plans to undertake a rights issue exercise that could see the company offer up to 50 million new ordinary shares to existing shareholders.
According to Express Kenya, shareholders on the register at the book closure date will be entitled to subscribe for one new ordinary share for every share held at a price of KES 5 per share. The transaction remains subject to approval from shareholders, the Capital Markets Authority (CMA), and the Nairobi Securities Exchange (NSE).
Express Kenya has advised its shareholders and the general public to exercise caution when trading its shares, noting that the transaction may have a material effect on the price of the Company’s shares at the Exchange.
Shares of Express Kenya (NSE: $XPRS) traded at KES 6.80 per share as of May 29, 2026. The counter has lost 11.5% on a year-to-date basis but has gained 126% year-on-year.
Express Kenya Rights Issue Comes Amid Ongoing Financial Challenges
The rights issue, whose proceeds have not been earmarked for a specific purpose, comes at a time at when the company is navigating financial challenges, having recorded a twelfth consecutive full year loss in the period ended December 31, 2025.
Revenue declined by 19% year-on-year to KES 21.3 million, primarily driven by reduced rental space due to the construction of a strip mall and a filling station. The company’s net loss widened to KES 125 million compared to KES 107.9 million reported a year earlier.
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