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State’s Sh20b offer boosts KenGen’s rights issue

National Treasury CS Henry Rotich (left) shakes hands with KenGen Chairman Joshua Choge after signing the provisional allotment letter that will see the Government convert its Sh20.2 billion debt in KenGen into shares. With them are Energy and Petroleum CS Charles Keter (second right) and KenGen Managing Director Albert Mugo.

Kenya Electricity Generating Company (KenGen) rights issue offer opened on a high note yesterday after the Government took up its full entitlement of the rights.

The principal shareholder, the Government, which currently owns 70 per cent of the firm, has agreed to participate in the issue by converting Sh20.2 billion debt into shares.

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