KCB Steps up Rights Issue Sensitization Drive
KCB Group has started regional sensitization campaigns targeting shareholders to take up their Rights.

KCB Group has offered 887.1 million ordinary shares to eligible shareholders at the ratio of 2 new shares for every 5 ordinary shares held in a bid to raise Kshs 15 billion at a discounted subscription price of Kshs 17.

Through Road Shows, KCB will cover all the markets it has a presence namely Tanzania, Kenya, Uganda, Southern Sudan and Rwanda.
The first phase of the Road Shows will cover Nairobi, Nyeri, Embu, Nakuru, Eldoret, Meru, Mombasa, Kakamega, Kampala, Kisii, Kericho Machakos and Kisumu. 

KCB Rights opened and commenced trading at the Nairobi Stock Exchange, Uganda Securities Exchange (USE), Dar es Salaam Stock Exchange (DSE) and Rwanda over the Counter (ROTC) on July 1, 2010.
The last day of trading in KCB Rights will be on July 12, 2010 while the Offer Closing and last date for acceptance and payment of new shares will be on July 23, 2010. 

“The purpose of the Rights Issue is to facilitate the bank’s medium long-term strategy that focuses on consolidating the business in all our markets, meet growth needs and grow profitability,” said Kepha Bosire, The Divisional Director, Public Affairs and Communications.
He said the bank will also support its Mortgage Division and roll out attractive mortgage products as demand for housing units increase in the country and region.

The KCB Rights Issue has attracted investors across the region. KCB shares are cross-listed on the Nairobi Stock Exchange (NSE), Uganda Securities Exchange (USE), Dar es Salaam Stock Exchange (DSE) and Rwanda over The Counter (ROTC).

KCB is a regional brand with presence in Kenya, Uganda, Tanzania, Rwanda and Southern Sudan and has a total of 212 branches. The bank has the largest balance sheet at Kshs 220 billion.

KCB has installed over 370 ATMs and customers have access to 110 PesaPoint units and 250 Kenswitch outlets. KCB has a state-of-art core banking system, T24, which has enabled it to introduce technology-driven products and services such as the Contact Centre and KCB Connect.