TransCentury Group Rights Issue Shares Start Trading at the NSE

On April 26, TransCentury Group Plc (TC) began trading its newly issued ordinary shares on the Nairobi Securities Exchange (NSE).

These shares were part of a recently completed rights offering.

The selling of 752,825,555 additional ordinary shares as part of the rights offering brought in money and demonstrated the high level of investor confidence in TransCentury Group’s ambitions.

TC Chairman Shaka Kariuki expressed his joy at the rights issue’s successful conclusion and the start of trading in the new shares.

He said, “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,” he said.

The successful conclusion of TC’s rights issuance is a demonstration of investor trust in the NSE, according to Geoffrey Odundo, Chief Executive of the NSE.

“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.

TransCentury Group is prepared to strengthen its position as a leading Infrastructure investment partner in Africa with the conclusion of the rights issue and the start of trading in the new shares.