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The Kenya Electricity Generating Company (KenGen) has received regulatory approval for its Sh28.8 billion rights issue.
The energy producer says it’s offering a total of 4.4 billion ordinary shares at Sh6.55 per share to raise Sh28.8 billion in new capital. The rights issue will open on May 23, 2016, and close on June 10, 2016 following approval by the Capital Markets Authority (CMA) and Nairobi Securities Exchange (NSE).
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