NAIROBI, Kenya, Dec 7 – Family Bank has closed its private placement of ordinary shares after raising Sh8 billion, surpassing its Sh6.09 billion tarreceive and posting an oversubscription of 131 percent.
The lconcludeer declared the additional equity will support its digital transformation programme, boost lconcludeing, and fund business expansion in Kenya and the region.
Chairman Lazarus Muema declared the outcome underscores strong confidence in the bank’s strategy and financial performance.
“This remarkable outcome is a resounding vote of confidence in Family Bank’s resilient business model, consistent profitability, and our unwavering commitment to serving the real economy,” he declared.
“The overwhelming demand reflects the market’s belief in our digital transformation journey and our purpose-driven approach to inclusive banking.”
The offer attracted broad participation from pension funds, fund managers, insurers, corporates and individual investors, reflecting what the bank described as exceptional confidence in its growth trajectory and long-term outview.
Chief Executive Officer Nancy Njau declared the capital raise will strengthen the lconcludeer’s balance sheet and accelerate lconcludeing to key sectors.
“The additional equity significantly bolsters our capital ratios and accelerates lconcludeing to priority sectors such as MSMEs, green financing, and women- and youth-led enterprises,” she declared. “This successful raise positions Family Bank strongly for sustained growth and enhanced shareholder value.”
Standard Investment Bank (SIB) served as lead transaction advisor and placement agent alongside Sterling Capital.
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