• Advertise with Us
Monday, December 4, 2023
  • Login
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Technology
    • Startups
  • Money Matters
  • Podcast
  • Videos
  • Digital Assets
  • Calendar
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

CMA Approves TransCentury Plc Rights Issue

Eunniah MbabazibyEunniah Mbabazi
November 15, 2022
in Kenyan News, Markets
Reading Time: 2 mins read
TransCentury Group

The Capital Markets Authority (CMA) has granted approval to TransCentury Plc to undertake s rights issue to raise KES 2.063 billion by issuing and listing 1,876,013,830 new ordinary shares ate KES 1.10 per share.

The rights will be issued based on five new ordinary shares for every one existing share held by each shareholder.

ADVERTISEMENT

The proceeds of the rights issue will be applied towards settling debts owed to creditors, repaying part of the holding company debt owed to lenders and in return unlock additional working capital financing for the Group and its subsidiary businesses and defraying statutory obligations.

TransCentury Plc has not published the financial statements for the year ended December 31, 2021, which were due for submission and publication on April 30, 2022, and will use part of the funds raised to undertake audits and publish its financial statements.

A minimum of 50% of the rights are required to be accepted for the rights issue to be declared successful.

See Also:

CMA Approves KSh 10.5 Billion Corporate Bond by State-Owned Mortgage Lender


Previous Post

BasiGo Receives $1 Million Investment from Mobility 54 Investment SAS

Next Post

Kenya Suspends Bulk Avocado Exports for 3 Months

Related Posts

Equity Group CEO James Mwangi.

Equity Group Completes Acquisition of Rwandan Bank

December 2, 2023
Bigstore

Bigstore Secures Funding, Expands eCommerce Services

December 2, 2023

Kenya’s Inflation Rate Dropped Marginally in November

December 1, 2023

Bamburi Discontinues Ordinary Portland Cement, Pushes Greener Products

December 1, 2023

African Experts Call for New Paradigm to Unlock Methane Action Financing

November 30, 2023

Kenya Signs Food MoU, Targets to Cut Imports by US$200M Per Year

November 30, 2023

Diaspora Capitalizes on Weak Shilling with Real Estate

December 1, 2023

Sameer Issues Profit Warning, Plans to Retire Foreign-Currency Dominated Liabilities

November 30, 2023
Load More
Next Post
Kenya Suspends Bulk Avocado Exports for 3 Months

Kenya Suspends Bulk Avocado Exports for 3 Months

Follow Us

  • 167.4k Followers
  • 4.1k Subscribers
  • 1.2k Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Featured

No Content Available

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • Advertise with Us

Copyright 2023. The Kenyan Wall Street LTD. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2023. The Kenyan Wall Street LTD. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In