Wednesday, April 21, 2021
TechMoran
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Classifieds
No Result
View All Result
TechMoran
">
Home Business

DTB Kenya To Raise Capital Of Ksh.3.63 Through Right Issue

Caroline Vutagwa by Caroline Vutagwa
7 years ago
in Business
4 min read
0

 

 

 

 

 dtb

 

Diamond Trust Bank Kenya (DTB) intends to raise KShs 3.63 billion ()in fresh capital, following the approval of its Rights Issue by the Capital Markets Authority & Nairobi Securities Exchange on Tuesday, 17 June. This followed approval obtained from the bank’s shareholders, at an extraordinary general meeting held on 4 March 2014.

Related posts

Kenya’s online trading broker EGM Securities cleared to offer NSE derivatives

April 20, 2021
0

Truecaller launches an enterprise solution for businesses to grow its revenue streams

April 15, 2021
0

Mi Vida Leveraging Over 200 Years Real Estate Experience to Bring Affordable Housing to Kenya

April 13, 2021
0

AppGallery touting operational support, data analytics, security & marketing to onboard local banking apps

April 7, 2021
0

Uber & Mastercard extend digital payment partnership across the Middle East & Africa

April 7, 2021
0

LG shuts down loss-making mobile phone business to focus on EVs, IoT and B2B Solutions

April 5, 2021
0

Through the rights issue, DTB intends to offer 22 million additional shares at a rights price of KShs 165 per share. This represents a hefty discount of 32% over the bank’s share price, which traded at KShs 244 at the bourse yesterday.

Nasim Devji, the bank’s Managing Director, thanked the Capital Markets Authority and the Nairobi Securities Exchange for their timely approvals.

“The Board resolved to offer the Rights at an attractive discount over the prevailing market price, given the unyielding support and unwavering loyalty demonstrated by the shareholders, which has seen DTB’s operations grow from strength to strength across Eastern Africa in recent years”, said Devji.

READ  Was Marek Building HotelOga While Still At Jovago

In the last year, the bank’s share price has rallied, rising by 44 percent since June 2013 and by 27 percent in the last six months.

Devji advised that the additional capital raised will play a key role to fund future asset growth, investment in the branch network and alternative channels in Kenya, as well as strengthen the Group’s presence in East Africa, through additional investments in DTB’s subsidiaries in Tanzania, Uganda and Burundi. It will also enable the bank to explore future investment opportunities in other new markets in the region.

The rights issue will be launched on 30 June 2014 and will run until 25 July 2014. All shareholders in the bank’s share register as at close of business 24 June 2014 will be entitled to participate in the rights issue. Other investors interested in acquiring the rights may bid for them during the trading window which is expected to run from 2 July 2014 to 15 July 2014.

Readers 897

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Caroline Vutagwa

Caroline Vutagwa

Minding my own business is not enough for me that's why you will always find me minding Africa's Businesses as well as Technology and of course letting you know about it. Talk to me on [email protected]

Related Posts

Business

Kenya’s online trading broker EGM Securities cleared to offer NSE derivatives

April 20, 2021
0
Business

Truecaller launches an enterprise solution for businesses to grow its revenue streams

April 15, 2021
0
Business

Mi Vida Leveraging Over 200 Years Real Estate Experience to Bring Affordable Housing to Kenya

April 13, 2021
0
Business

AppGallery touting operational support, data analytics, security & marketing to onboard local banking apps

April 7, 2021
0
Business

Uber & Mastercard extend digital payment partnership across the Middle East & Africa

April 7, 2021
0
Business

LG shuts down loss-making mobile phone business to focus on EVs, IoT and B2B Solutions

April 5, 2021
0
Business

Network International hires new executive to drive growth in Sub-Saharan Africa

April 5, 2021
0
Business

Airtel Africa’s Mobile Money Business Raises $100m from Mastercard

April 1, 2021
0
Business

How to use PayPal’s New “Checkout with Crypto” Feature

March 31, 2021
0

ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Nigeria’s Overwood Capital wants to be the go-to investment platform for the common man

April 21, 2021

Trends and Benefits of Serverless Computing in 2021

April 20, 2021

Businesses Don’t Need to Understand Poker to Play Casinos at Their Own Game

April 20, 2021

Nigeria’s Babymigo provides right-hand information for expecting mothers and parents

April 20, 2021

Cairo-based grocery startup Appetito raises $450,000 seed

April 20, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Classifieds

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: