Housing Finance plans cash call in early 2015

Housing Finace CEO Frank Ireri reads 907 million full year pofit report at the Serena hotel. [PHOTO BY MOSES OMUSULA/STANDARD]

Kenya: Housing Finance will raise cash with a rights issue in the first months of 2015, it said yesterday, months after it scrapped a planned Sh20 billion ($222.22 million) bond due to high interest rates.

Housing Finance, the only listed dedicated mortgage financier in East Africa’s largest economy, did not detail the size of the capital raising or what it would use the cash for.