The Olympia Capital Holdings Rights Offer comes to a "close" on Friday (14 Sep 2007). The Rights will stop trading on Friday but the exercise date is 28 Sep 2007 giving buyers 2 weeks to get their finances in order. They will raise KShs 420mn.
Barely after the close of the Olympia Rights Offer then Diamond Trust Rights Offer will start soon after the EGM on 1 Oct 2007. They will sell 23,291,015 shares at a yet undetermined price. As happened with the earlier Rights Offer in 2007, it is expected the Offer will be oversubscribed as well.
Then there is NIC Bank which plans to sell 16.5 million shares at KShs 70 = KShs 1,155mn. From the excitement shown for the shares on the market (selling at 175/-) it is likely the Offer will be heavily oversubscribed.
Barclays Bank announced a KShs 3bn bond offer today.
So all in all... the NSE cash ATM continues unabated whether it is an election year or not!
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