Kenya Airways to float shares; 1Time holdings drops sharply

Kenya Airways announced plans to float additional shares to raise capital to finance its growth and expansion plans. CFC Stanbic Bank has been appointed as financial adviser, with the carrier in the process of securing services of other consultants. Shares in Kenya Airways dipped 0.6% in trading on Friday.

Shares in 1Time Holdings dropped 10.8%. The company operates South African LCC 1Time, as well as Aeronexus and Jetworx.

Selected MEAAD daily share price movements (% change): 25-Feb-2011