Transcentury CEO, Nganga Njiinu at a previous occasion. FILE PHOTO | DIANA NGILA | NMG

Funding agency TransCentury will announce the outcomes of its rights difficulty –which seeks to lift Sh2 billion— on Wednesday subsequent week in keeping with an up to date timetable.

The Nairobi Securities Change-listed agency was initially set to announce the efficiency of the money name on February 9 however obtained an extension because it sought extra time to just accept funds from shareholders.

The provide was to shut on January 23 however the date was moved to February 3.

The outcomes publication will present the efficiency of the money name which the corporate says is earmarked for recapitalizing the enterprise, decreasing debt and unlocking working capital.

TransCentury shareholders had been supplied 1.87 billion new odd shares at a worth of Sh1.10 every.

Personal Fairness agency Kuramo Capital is anticipated to be the largest participant within the rights difficulty, having outlined plans to speculate as much as Sh1.1 billion which might convey its shareholding within the funding agency to a minimum of 48 %.

Weak participation by different minor buyers might nevertheless convey Kuramo’s maintain on TransCentury above the 50 % mark.

The personal fairness agency had nevertheless obtained the approval of the Capital Markets Authority to extend its possession within the firm with out making a buyout provide to minority buyers.

TransCentury’s share worth had risen to commerce above the rights difficulty worth within the weeks to the closing of the provide interval, incentivising buyers to take up their rights in the event that they needed to defend or enhance their stake within the agency.

The corporate’s inventory initially at a major low cost which made it cheaper the shares on the open market.

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