Listed investment firm TransCentury has set a target of raising Sh2.06 billion in its rights issue after settling for an offer price of Sh1.10 per unit, the Capital Markets Authority (CMA) disclosed Tuesday.
The offer price represents only a thin discount on the share’s prevailing trading price of Sh1.11 at the Nairobi Securities Exchange (NSE) and is therefore likely to test investor faith in the company which holds a negative equity position of Sh9.07 billion.
