28-Feb-2011 3:12 PM

Kenya Airways to float shares

Kenya Airways announced plans to raise capital to finance its growth and expansion plans (East African Business Week, 27-Feb-2011). The carrier has secured the services of CFC Stanbic Bank as their financial adviser and are in the process of securing services of other consultants who will also advise Kenya Airways on possible arrangements. Director, Titus Naikuni stated: "At the moment we are unable to provide any additional information but the appropriate regulatory and shareholder approvals will be requested once decisions on the way forward are made."