More than 78,000 small Kenya Airways #ticker:KQ shareholders are set for a massive dilution of their stake in the ongoing restructuring that could leave them owning only about 6.7 per cent of the national carrier from 43.7 per cent.
An analysis done by Genghis Capital, an investment bank, shows that based on Kenya Airways’ (KQ) current market price of Sh6.8 per share, the Treasury will emerge as the biggest shareholder of the national carrier with a 41.1 per cent stake immediately after conversion of its debt into shares.
