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)
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.
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