1 for every 18.
If say an investor holds 2000 shares; this works out to rights of 111.11111111111111111111111
NSE sells shares in blocks of 100; what happens then? Is it rounded up, down or what? Or does the 100 blocks rule not apply to rights?

Somebody educate me.

Pray tell, how does this answer my question-the title of the post?

Thanks Horton.

@qw25041985:
Its definitely a buy especially if you intend to participate in the rights issue, with the register closing tomorrow at 3.00PM.

@My 2 cents:
The rights are being offered at a ratio of 1:18 meaning it would be prudent to purchase the share in multiples of 1800 to ensure you end up with a multiple of 100 in the rights issued. However, the Directors reserve the right to deal with any odd lots as they deem fit (read the AGM resolution authorising the rights issue). This means they may round upwards or downwards the final allocation to ensure no odd lots in their register of share holders.

The ratio of 1:18 was not a very wise idea especially to the small shareholder as the rights are heavily tilted to persons having a shareholding greater than 1800 shares.
However, the CEO has promised an interim dividend to accompany the third quarter results (Today Nation Newspaper-Business pages).
I estimate the interim dividend to be in the Ksh 5-6 range; and the full year dividend (interim + final dividend) to be in the Ksh 15-16 range ; about 6.5% return on investment at current price.

Happy hunting.