DTB Rights issues

Diamond Trust Bank Kenya has raised 1.81 billion shillings through a rights issue, aimed at funding expansion of its branch network in East Africa, with 74.6 percent of shareholders taking up their rights to buy one new share at 74 shillings apiece for every eight held.The bank added that shares not taken up by existing shareholders would be allotted 22.74 percent pro rata to those who applied for additional shares. The new shares will be listed and start trading on sept.12. Diamond trust plans to expand its branch network to 90, from the current 78. As it focuses its services to small and medium-sized firms and retail banking services in burundi, kenya, tanzania and uganda.

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