Investment firm TransCentury #ticker:TCL has acquired an additional 5.5 per cent stake in its subsidiary Civicon, signalling its bullish stance in the prospects of the engineering firm, which is its main cash cow.
The Nairobi Securities Exchange-listed firm spent Sh245.1 million last year to raise its stake in Civicon to a new high of 83.5 per cent compared to the previous 78 per cent.
