The group raised Sh3.63 billion in additional capital by offering 22 million rights to its shareholders at Sh165 which was oversubscribed by 340 percent.
In line with the Information Memorandum supporting the Rights Issue, the funds raised will be used mainly to continue with DTB's expansion plans and explore additional opportunities to further strengthen its presence in
"The Rights Issue subscription of 440 percent was record breaking for DTB which has undertaken three Rights Issues previously and also for the NSE, as no previous Rights Issues undertaken at the bourse over the past 10 years had achieved such a high level of subscription," Samji said.
He also said that refunds to shareholders who had applied for additional shares had been made to the shareholders last
On his part NSE Chairman
"This is DTB's fourth successful Rights Issue after three others in 2006 (Sh776 million), 2007 (Sh1.6billion) and 2012 (Sh1.8billion). DTB has used the funds to invest in its businesses across
"This has enabled DTB to use the capital markets to expand its footprint and brand across the region. The latest capital raise will be used to bolster its core capital," stated Njoroge.
He added that the success of the DTB Rights Issue, signals the great demand from domestic and international investors for investment opportunities in the capital markets.
"We strongly urge our private sector and the Government of
Last week DTB's shares were trading at an all time high of Sh260 per share, resulting in a capital appreciation of nearly 60 percent over the price at which the rights were issued.
With the listing on Tuesday, the market capitalisation of
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