Immediately the listed nonbanking financial services company
Sanlam Kenya Plc announced a
rights issue, seeking to raise up to
Sh2.5 billion on Friday, the firm’s
share price at the Nairobi Securities
Exchange soared to a year high.
Capital market analysts expect
it to rise further as the issue awaits
opening in a fortnight following
regulatory approvals.
It closed
Friday at Sh8.60.
“The company has secured
all the regulatory and related
approvals from the Capital Markets
Authority of Kenya (CMA), the
Nairobi Securities Exchange (NSE),
the Insurance Regulatory Authority
(IRA) and the South African
Reserve Bank (SARB) ahead of the commencement of the Rights
Issue, which is now set to open on
Friday, 25 April 2025 and close
on Monday, 12 May 2025,” the
company statement reads.
The week also saw Jubilee
Holdings share gain six units after
recording a gross profit of Sh6.2
billion for the year ended December
31, 2024.
This marked the first time in
the company’s history that PBT
surpassed the Sh6 billion mark,
underscoring its sustained growth,
strategic resilience, and market
Gross Written Premiums (GWP)
grew by 34 per cent to Sh53 billion,
up from Sh39.6 billion in the
previous financial year.
The insurance provider’s total
assets grew by 12 per cent from
Sh190.5 billion to Sh213.6 billion,
reinforcing the group’s financial strength and strategic growth
trajectory.
This saw the board recommend
a record dividend payout of Sh978
million, translating to Sh13.5 per
ordinary share, a move likely to
trigger more activities at the counter
as investors give a celebratory lap of
honour.
The biggest gainer for the
week was Eaagads Limited which
principally engage in the growing
and selling of coffee.
The firm’s
share rose by a massive 10 per cent.
