OCHL has announced the Rights price at 14/- per share. I was expecting 10/- but the 14/- is a 30% discount to the current market price of 20/-.
The shares should trade Cum Rights for a few days until they trade Ex-rights but that need to be decided by the CMA, NSE & OCHL.
OCHL would raise a (gross) KShs 420mn if all the shares are taken up. The current "excess liquidity" on the NSE may bode well for them since the KenRe IPO was over-subscribed & the refunds should start flowing in soon.
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