Barclays Bank is now valued at Sh53.2 billion making it the twelfth largest firm by valuation at the bourse, compared to Sh49.4 billion at the beginning of the year when it was ranked the ninth.
A flat share price has this year pushed Barclays Bank #ticker:BBK from the top 10 list of the largest firms at the Nairobi Securities Exchange (NSE) as measured by market capitalisation.
Latest NSE data shows that the top tier lender is now valued at Sh53.2 billion making it the twelfth largest firm by valuation at the bourse, compared to Sh49.4 billion at the beginning of the year when it was ranked the ninth.
Barclays’ share price has gone up by seven per cent to Sh9.80 from Sh9.10 in January.
At the same time, all the other listed banks except HF #ticker:HFCK have registered double-digit price gains, led by Diamond Trust Bank (DTB) #ticker:DTK at 62 per cent and KCB #ticker:KCB at 46 per cent.
The new entrant to the top 10 list is Kenya Airways #ticker:KQ, whose share restructuring deal has boosted its market valuation by Sh93.8 billion.
This has on paper left the airline as the NSE’s fifth largest firm by capitalisation, although its retail shareholders have nominally taken a steep cut in the number of shares held.
KQ’s big jump has come as a result of issuing new shares to the Treasury and a consortium of banks in a debt swap that was completed at the end of last month.
This injection of 4.18 billion shares, combined with the share price of the airline jumping to Sh18.05, have moved its capitalisation to Sh102.5 billion, having stood at just Sh8.8 billion at the beginning of the year when the company had 1.46 billion shares in issue.
Among the other top 10 firms, Safaricom #ticker:SCOM, EABL #ticker:EABL and Equity Bank #ticker:EQTY retain their top positions, with a market capitalisation of Sh1.07 trillion, Sh193 billion and Sh151.9 billion respectively.
BAT #ticker:BAT, which began the year as the fourth largest firm at Sh90.9 billion, has slipped to Sh79.9 billion falling behind Co-operative Bank whose valuation stands at Sh93.9 billion, up from Sh64.5 billion in January.
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