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Safaricom Market Cap Nears Record Sh 1 Trillion

Kenyan WallStreetbyKenyan WallStreet
June 13, 2017
in Kenyan News
Reading Time: 2 mins read
Screen shot 2016 11 04 at 11.34.31 AM

On Tuesday’s trading session, Safaricom (SCOM) stock briefly hit a record high of Sh 24, giving the telco a market valuation of Sh 961.57 Billion ($9.62 billion.) The stock ended the regular trading session up 2.20% to 23.25. (Safaricom’s Total Shares Outstanding: 40,065,428,000)

Screen shot 2017 06 13 at 3.30.29 PM
Safaricom Stock – Nutcracker Portal
Mid last month, Safaricom announced solid operating and financial performance for the full year period ended March 2017. Investors have upped their share price targets for the telco on expected robust earnings from its M-Pesa and data businesses.

Meanwhile, the Nairobi Securities All Share Index (NASI) surged to a 14 Month high of 152.13 points despite upcoming General  Elections in August.

Kenya Airways (KQ) Share price has declined the most. It has lost by 25 per cent over the last three trading sessions to close at Sh 5.15 on Tuesday. This is after it confirmed that it will soon invite shareholders to participate in a rights issue aimed at optimizing the airline’s balance sheet as part of a “broader turnaround strategy.”

However, shares of National Bank of Kenya (NBK), have jumped by nearly 20% since Monday. Over the weekend, it was reported that Kenya Commercial Bank (KCB Group) had tabled a proposal to acquire 70% in the struggling lender.

BREAKING..
KCB Group CEO Joshua Oigara Confirms interest in Acquiring 70% Stake in National Bank of Kenya, Says more details at a later date pic.twitter.com/483JzTyvbZ

— Kenyanwallstreet (@kenyanwalstreet) June 12, 2017

READ; 

Safaricom Earnings Up 27% To Sh 48.4 Billion, Collymore Gets 2 year Contract Extension

Safaricom Officially Unveils M-Pesa Payments Card To Rival Visa & Mastercard

Vodacom Acquires Vodafone PLC’s 35% Stake In Safaricom

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No real Benefit for KCB Shareholders in NBK Acquisition - Genghis

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