Co-operative Bank of Kenya #ticker:COOP plans to raise its authorised shares by 50 per cent or 2.5 billion units to cater for its upcoming bonus issue and future capital raising.
The lender has asked shareholders to pass a resolution increasing its authorised share capital from five billion shares to 7.5 billion at an annual general meeting to be held later this month. This will partly pave the way for issuance of the 977 million shares for its one-for-five bonus bonus.
