KCB Group Plc has listed an additional 142,979,717 shares at the Nairobi Securities Exchange (NSE) following the successful acquisition of the National Bank of Kenya (NBK). All NBK shareholders who accepted the offer can now be able to sell their shares as KCB at the exchange.
The new shares, most of which will have been taken up by the National Treasury and National Social Security Fund (NSSF), are now freely trade-able on the Nairobi Securities Exchange.
KCB shares were closed at 42.10 yesterday before the listing with fears that the new shares might cause a temporary dilution on the stock,back to levels of Kes 40.00 per share. KCB Group’s total market capitalization now stands at 135.6 billion shillings as the new shares take on the prevailing market price of Kes 42.00 valued on the NSE at about Sh6.2 billion in aggregate, up from Kes 129.3 billion.
The new shares, most of which will have been taken up by the National Treasury and National Social Security Fund (NSSF), are now freely trade-able on the Nairobi Securities Exchange.
