Close Menu
  • Briefing
    • Cover Story
    • Latest News
    • Counties
  • Politics
    • Society
  • Special Reports
    • Companies
    • Enterprise
    • Money
    • Technology
  • Columns
  • Dispatches from China
  • Member Content
    • Shop
  • Contact Us
    • About us
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram LinkedIn
Nairobi Business Monthly
Subscribe
  • Briefing
    • Cover Story
    • Latest News
    • Counties
  • Politics
    • Society
  • Special Reports
    • Companies
    • Enterprise
    • Money
    • Technology
  • Columns
  • Dispatches from China
  • Member Content
    • Shop
  • Contact Us
    • About us
Nairobi Business Monthly
Home»Briefing»Family bank to offer 800mn new shares to strengthen capital base
Briefing

Family bank to offer 800mn new shares to strengthen capital base

Victor AdarBy Victor Adar7th November 2023Updated:7th November 2023No Comments1 Min Read
Facebook Twitter WhatsApp Telegram Email
Share
Facebook Twitter WhatsApp Telegram Email

Family Bank has received formal approval from shareholders to offer up to 800 million new shares through a rights issue, a move that will increase the lender’s issued authorized ordinary shares from the current 1,500,000,000 to 2,300,000,000. 

Through this increase in ordinary shares, the bank aims at raising up to Sh10 billion in the medium term. The capital raise will be achieved through a mix of a rights issue and from new shareholders via a private placement.  

“Through this capital raise, we are positioning the bank for the next phase of growth which will position the bank as a choice bank for our existing and potential clients through customer-first service delivery not only in Kenya but also in the region,” Family Bank CEO Rebecca Mbithi, said.

The Nairobi Law Monthly September Edition

The funds raised through the rights issues that commenced on October 19, 2023 and closes on November 30, 2023, will go towards strengthening the bank’s capital base, for local and regional growth plans, driving investments in IT infrastructure and new product initiatives and supporting onward lending activities.  

The Nairobi Law Monthly September Edition
Follow on Facebook Follow on X (Twitter) Follow on WhatsApp
Share. Facebook Twitter WhatsApp Telegram
Victor Adar
  • X (Twitter)
  • LinkedIn

Victor Adar holds a Diploma in Mass Communication, Print, from Technical University of Mombasa. He has worked before for Reuters, Go Places travel magazine and Aden Associates International. As one of the old hands at NBM, having joined the team in 2012, Victor is one of the most reliable writers in the editorial team. He writes more on enterprise, corporate affairs, HR and technology.

Related Posts

Kenya mandates GPS coordinates to end ghost projects

4th July 2025

Ruku admits public servants are underpaid, calls for urgent reforms

3rd July 2025

Health ministry clarifies Sh208,000 pay structure for medical interns

3rd July 2025

Digital credit access boosts financial well-being, study finds

3rd July 2025
Add A Comment

Comments are closed.

The Nairobi Law Monthly September Edition
Latest Posts

Experts warn over rising noodle intake among Kenyan children

4th July 2025

Kenya mandates GPS coordinates to end ghost projects

4th July 2025

Kenya’s push for nuclear energy gains momentum at Kigali summit

4th July 2025

New partnership drives innovation and entrepreneurship in Botswana

4th July 2025

Ruku admits public servants are underpaid, calls for urgent reforms

3rd July 2025
The Nairobi Law Monthly September Edition
Nairobi Business Monthly
Facebook X (Twitter) Instagram LinkedIn
  • About Us
  • Member Content
  • Download Magazine
  • Contact Us
  • Privacy policy
© 2025 NairobiBusinessMonthly. Designed by Okii

Type above and press Enter to search. Press Esc to cancel.