Renaissance Capital completes rights issue for Kenyan Electricity Generating Company
The company placed c. 4.045 billion shares, representing a 92% subscription rate.
David Dalhuisen, Head of East African Investment Banking at Renaissance Capital, commented: “This is the largest East African rights issue to-date and the largest public offering in Sub-Saharan Africa (ex-South Africa) this year. The deal saw a strong group of international investors enter the stock for the first time.”
Renaissance Capital, along with Standard Investment Bank (SIB), acted as the Lead Transaction Advisor on the deal. Dyer and Blair Investment Bank and Faida Investment Bank acted as the Lead Sponsoring Stockbroker.
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