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Kenya's NIC Bank raises $23 million in rights issue

Kenya's NIC Bank said on Thursday it had raised 2.1 billion Kenyan shillings ($23.2 million) through a rights issue, part of its plan to raise more funds to increase lending to businesses and individuals.

The bank issued and listed an additional 42.66 million shares with an offer price of 49.25 shillings per share.

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NIC Bank