Family Bank Chairman Wilfred Kiboro addresses participants during the
firm’s Annual General Meeting at KICC in Nairobi on April 22, 2016. The
mid-sized lender will be offering four new shares for every 25 held to
its existing shareholders in a bid to raise expansion capital. PHOTO |
SALATON NJAU | NATION MEDIA GROUP
Family Bank’s quest to raise Sh4 billion through a rights issue
has kicked off with the lender offering its shareholders an opportunity
to buy more stocks at a discounted price of Sh22 per share.
The mid-sized lender will be offering four new shares for every 25 held to its existing shareholders in a bid to raise expansion capital. The rights issue kicked off last Tuesday and will close on June 27.
Family Bank Chairman Wilfred Kiboro on Friday urged the bank’s shareholders to take their full rights and participate in the offer for the bank, saying the lender continues to be a “home grown success”.
“Family Bank is a strong institution that continues to play a central role in this country’s development. We are here to stay. I urge shareholders to exercise their full rights as the bank is going places,” Mr Kiboro said.
Family Bank CEO David Thuku said the capital raised is key to the lender’s plans as it eyes growth to attain top-tier status.
“We will continue to expand our business to 100 branches by end of this year. We will be rolling out innovative yet relevant financial solutions while enhancing our procedures and systems,” he said.
The mid-sized lender will be offering four new shares for every 25 held to its existing shareholders in a bid to raise expansion capital. The rights issue kicked off last Tuesday and will close on June 27.
Family Bank Chairman Wilfred Kiboro on Friday urged the bank’s shareholders to take their full rights and participate in the offer for the bank, saying the lender continues to be a “home grown success”.
“Family Bank is a strong institution that continues to play a central role in this country’s development. We are here to stay. I urge shareholders to exercise their full rights as the bank is going places,” Mr Kiboro said.
Family Bank CEO David Thuku said the capital raised is key to the lender’s plans as it eyes growth to attain top-tier status.
“We will continue to expand our business to 100 branches by end of this year. We will be rolling out innovative yet relevant financial solutions while enhancing our procedures and systems,” he said.
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