Cooperative Bank of Kenya announced that it will be seeking approval of its shareholders to boost its capital by issuing them bonus shares. The bank said it will create an additional Sh2.5 billion worth of ordinary shares to boost its share capital to Sh7.5 billion. The lender seeks to raise its authorised share capital to Sh7.5 billion (divided into 7.5 billion shares of Sh1 each) by creating 2.5 billion ordinary shares of Sh1 each. CONVERTIBLE DEBTCo-operative Bank said it is seeking shareholder approval for a bonus share issue of one share for every five held. Each ordinary share is valued at Sh66,” the lender said in a statement yesterday.

Source: Standard Digital May 02, 2017 16:18 UTC