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TransCentury Group Plc (TC) has announced the commencement of trading of its new ordinary shares from the recently concluded rights issue on the Nairobi Securities Exchange (NSE) starting from April 26th, 2023.
The rights issue generated funds from the sale of 752,825,555 new ordinary shares, showcasing strong investor confidence in TransCentury Group’s prospects.
The company’s Chairman, Shaka Kariuki, and CEO, Nganga Njiinu were present at the NSE to ring the bell, signifying the start of trade in the shares.
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Expressing his delight in the successful completion of the rights issue and the commencement of trading in the new shares, TC Chairman, Shaka Kariuki stated,
“We express our gratitude to our investors for their confidence in our business, as evident by their investment in the recently concluded rights issue. This capital infusion will facilitate the reduction of debt, thus unlocking additional working capital for our subsidiary businesses. We are taking bold strides to strengthen our position as a premier Infrastructure investment partner in Africa, and we remain resolute in achieving our goals.”
Geoffrey Odundo, NSE Chief Executive, said the successful completion of TC’s rights issue is a signal of investor confidence in the NSE.
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” The successful completion of TransCentury Group’s rights issue is a testament of the confidence investors have in the company’s growth prospects and in the market. This injection of new capital demonstrates the NSE’s continued position as a leading platform for raising capital and provides a strong signal of the resilience and dynamism of the Kenyan capital markets.” he said.
With the successful completion of the rights issue and the commencement of trading in the new shares, TransCentury Group is poised to enhance its position as a leading Infrastructure investment partner in Africa.