Company fillings at the Nairobi Securities Exchange show that Helios held 32.7 million shares in Equity at the end of October, the holdings can be attributed to one of the Helios Shareholders who James Mwangi talked about during the recent investor briefing.Mwangi said that investors who acquired Helios’ stake have a long-term commitment and are ready to raise their stake or provide additional equity fi- nancing to further grow the bank,noting that there is one particular shareholder who had a long term commitment and wanted to be allocated his own shares of Equity Bank.
Equity Bank Investor briefing livestream
‘Helios is an example of what private equity can do and the bank transformed from Kshs 2 billion to 65 billion in shareholder funds without having to do a rights issues, or issue shares and went from 20 billion to 400 billion of assets’ said Mr Mwangi.
However,most of Equity’s shares sold by Helios were priced at a premium of up to 10 per cent on prevailing market prices there by gaining Ksh 40 billion on the Sh11 Billion it had paid in December 2007 to acquire the 24.9 shareholding in Equity.
