Standard Investment Bank and Renaissance Capital have landed deals as lead transaction advisors, while Dyer and Blair Investment Bank and Faida Investment Bank are the sponsoring brokers for the cash call. “We are looking at joint ventures especially for Olkaria VI and procurement of a financial advisor has started,” he told a press conference in Nairobi. “Joint ventures will bring in equity while some cash will also come from our internal sources.” KenGen plans to issue close to 4.4 billion new shares at Sh6.55 per piece at a ratio of two new ordinary shares for one held by shareholders on register by this Friday. The cash is part of the Sh201.24 billion ($2.005 billion) the state-owned electricity producer has projected will be required to add the new capacity to the national grid.

Source: The Star May 11, 2016 00:30 UTC