Kuramo Capital is set to convert its shareholder loans into shares of infrastructure investment firm TransCentury, which has been struggling to raise Sh2 billion in a rights issue.
The private equity firm has provided loans worth Sh1.9 billion to the Nairobi Securities Exchange-listed firm, which now says it is ready to convert the debt into equity as part of the cash call, marking a rare case where a rights issue does not raise new capital.
