">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Friday, February 26, 2021
  • 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
No Result
View All Result
TechMoran
">
Home Business

DTB Lists New shares on NSE after a Record 340% Over-Subscription Rate

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

DTB

Diamond Trust Bank, DTB, is pleased to announce the official listing of its rights issue of 22 million shares on the floor of the Nairobi Securities Exchange, NSE. The bank raised KSh3.63 billion in additional capital by offering some 22 million rights to its shareholders at a discounted price of KSh165, which was subscribed at a record 440 percent.

Last week, DTB’s shares were trading at an all-time high of KSh260 per share, resulting in a capital appreciation of nearly 60 percent over the price at which the rights were issued.

DTB Group Chairman Abdul Samji said that the that the Rights Issue subscription of 440 percent was recording breaking for DTB which has undertaken three rights issues previously and also for the NSE as no previous rights issues undertaken at the bourse over at least the past ten years it had achieved such a high level of subscription.

He said: “We thank our shareholders for their significant show of support and continuing confidence in DTB. The funds raised will further strengthen our ability to achieve our long term strategic objectives anchored on deepening our presence in Eastern African and expanding to new markets in Sub Saharan Africa.”

In line with the Information Memorandum, supporting the rights issue, the funds raised will be used mainly to continue with DTB’s expansion plans and explore additional opportunities to further strengthen its presence in Kenya and the sub region, through its affiliates in Uganda, Tanzania and Burundi, as well as explore new investment opportunities in surrounding markets.

READ  How Kenyan Electronic Shops Use Sales Gimmicks To Attract Huge Profits

NSE Chairman Eddy Njoroge, said that increased attempt by quoted companies to raise fresh funds through rights issue is an attestation that the primary segment of the Kenyan capital market has picked up.

“This is DTB’s fourth successful Rights Issue after three others in 2006 (KSh776 million), 2007 (KSh1.6billion) and 2012 (KSh1.8billion). DTB has used the funds to invest in its businesses across Burundi, Kenya, Uganda and the United Republic of Tanzania.

Related posts

Spotify, the popular audio streaming subscription service launches in Africa

February 24, 2021
0

The immediate future of open banking

February 24, 2021
0

CrossBoundary raises funding from US’s Brown Advisory to finance mini-grids across Africa

February 22, 2021
0
ethiopia-9

Ethiopia Has Brushed Off Claims That Safaricom Was Shortlisted For License

February 22, 2021
0

This has enabled DTB to use the capital markets to expand its footprint and brand across the region. The latest capital raise will be used to bolster its core capital” stated Njoroge.

He added that the success of the DTB rights issue, signals the great demand from domestic and international investors for investment opportunities in the capital markets.

With the listing today, the market capitalization of DTB group stands at KSh63 billion, rising by a massive 65 percent in the past one year.

Readers 807

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

Spotify, the popular audio streaming subscription service launches in Africa

February 24, 2021
0
Banking

The immediate future of open banking

February 24, 2021
0
Business

CrossBoundary raises funding from US’s Brown Advisory to finance mini-grids across Africa

February 22, 2021
0
ethiopia-9
Business

Ethiopia Has Brushed Off Claims That Safaricom Was Shortlisted For License

February 22, 2021
0
Business

Huawei to cut its smartphone production by half, turns to Pig farming

February 22, 2021
0
Business

SunCulture raises $11 million to expand solar irrigation across sub-Saharan Africa

February 17, 2021
0
Business

Bolt Raises €150 Million to Bolster the Quality and Safety of its services

February 16, 2021
0
Business

Electricity Distributor Kenya Power Set To Join The Solar Business To Protect Revenues

February 15, 2021
0

ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

gnuGrid, Uganda’s remote off-grid monitoring startup raises $250,000 for expansion

February 25, 2021

South Africa’s API developer Stitch raises $4m to make Africa a world-leader in fintech

February 25, 2021

Usiku Games targets 8 million primary pupils to bolster STEM learning

February 25, 2021

Gozem appoints Othmane Bouhlal, co-founder of French ride-hailing firm Chauffeur-Privé’s to its board

February 25, 2021
online shop

Number Of Kenyan Internet Shoppers Drop Massively

February 25, 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

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

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: