National carrier Kenya Airways #ticker:KQ gained Sh64.5 billion in market capitalisation in the three days since its return to the Nairobi bourse last Wednesday, indicating investor enthusiasm for the company that only managed to stay aloft after a major bailout.
The 9.1 times rise in paper value – one of the biggest short-term rallies ever seen on the Nairobi Securities Exchange — defied what would normally have been a dilutive effect of a 4.3 billion increase in ordinary shares.
