Home Afrika Ltd, a Nairobi Securities Exchange listed Real Estate says its planning to raise Ksh 5.5 billion through rights issue and issuance of convertible debt instruments.
The rights issue is aimed at boosting its share capital position from the current KES 500 Million to KES 1 Billion. The company will be looking to raise an additional KES 5 Billion through issuance of convertible debt instruments to strategic investors. These are subject to shareholders’ approval during the upcoming company AGM.
Related; Home Afrika appoints Former Nation Media Group CEO Linus Gitahi as its chairman
Share Price
As of last trade on Friday morning, Home Afrika Ltd traded at 1.40, 16.67% above the 1 year low of ksh 1.20. The share price has dropped by 51.72% in less than two years.
The company listed at Ksh 25 Per share but that has dropped to the current levels of Khs 1.40.
Putting this into perspective; If an investor bought 40 000 shares worth Ksh 1, 000, 000 in July 2013, this investment is now valued at only Ksh 56 000. The investor has lost about Ksh 944,000.
