Updated Thu, July 7th 2016 at 00:00 GMT +3Kenya Electricity Generating Company’s (KenGen) new shares opened trading on the Nairobi Securities Exchange at Sh6.70, slightly higher than the rights issue price. He added that raising capital had gone beyond the reach of many companies but the capital market had offered a better alternative. This shows that the capital market remains a viable channel for raising capital. Despite the principal shareholder, the Government, giving out Sh20.2 billion on the day the rights issue began, it posted a 92 per cent subscription. However, speaking yesterday during the bell-ringing ceremony, KenGen CEO Albert Mugo said the rights issue has relieved the company of its debt repayment obligation and offered additional headroom for debt.

Source: Standard Digital July 06, 2016 16:52 UTC