Listed lender HF Group has turned to shareholders with a rights issue to raise new equity to shore up its flagging capital ratios that have fallen below the statutory minimum, affecting its ability to grow the business.
The cash call will see the bank issue 1.5 billion new shares, at a ratio of three for everyone held. It currently has 384.6 million shares in issue, which trade at the Nairobi Securities Exchange (NSE) with a current price of Sh4.15 per unit.
