29-Mar-2012 2:05 PM

Kenya Airways to launch rights issue this week

Kenya Airways plans to launch its KSES20.7 billion (USD250 million) share issue on 30-Mar-2012, according to reports in The Standard. Under the rights issue, existing shareholders have first call on the new shares. Shares will then be available for public offer at the Nairobi Securities Exchange (NSE) between 02-Apr-2012 and 18-Apr-2012. The rights issue will close on 27-Apr-2012. The Kenya Government and Air France-KLM have committed to take up their rights, totalling 49% of the offer.

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