Before the rights issue, the NAV was KES 50.13.

With full subscription, the NAV will be KES 22.60.

The rights issue will add KES 20,680,373,686 to total assets and total shares will be 1,938,785,032. Hope you get the logic now.

Kenya Airways Releases its Operating Results for the 4th Quarter ended 31st Mar 2012

The total passenger tally, which closed at 832,366 increased by 5.2% on prior year’s resulting to an improved average cabin factor of 68.1% compared to 66.7%.

Airbus and Boeing hit by plane cancellations

US giant Boeing said it had 25 orders of its flagship plane, the 787 Dreamliner, cancelled by airlines without naming who they were.

http://www.bbc.co.uk/news/business-17984492

In the Daily Nation Page 6 of 18 May 2012

Parliament to probe KQ rights issue
BY NATION REPORTER

A parliamentary investigation has been ordered into the just concluded Kenya Airways rights issue after questions were raised on the process.
Deputy Speaker Farah Maalim referred the matter to the parliamentary Finance committee yesterday after a member questioned how a stockbroker was picked and paid Sh100 million.

KQ plans to raise Sh2.7 billion for expansion and acquisition of additional aircraft in the rights issue which was launched by President Kibaki in March.

The government holds 23 per cent of KQ’s total issued capital.

Yesterday, Igembe North MP Ntoitha M’Mithiaru questioned the procedure of selecting stockbrokers for the submission of the provisional allotment letter and whether the service attracted a commission.
He also questioned whether the submission of the provisional allotment letter was a separate service from the advisory services provided by transaction adviser.

The transaction adviser in the rights issue was CFC Stanbic Bank Limited with CFC Stanbic Financial Services Limited as the lead transaction stockbroker. Standard Investment Bank Ltd was the lead sponsoring stockbroker.

Finance assistant minister Dr Oburu Odinga said the mandate for submission of the provisional allotment letter was with the lead sponsoring brokers who were competitively appointed by KQ.

Mr Maalim directed the Finance committee to report back to the House in a week’s time.

Sh100m Millions of shillings stockbroker was paid by Kenya Airways

True story

mwekez@ji, one thing I have to hand it to KQ is investor relations. For half of the companies, we are normally engaged in guessing games as to when they'll release the results

Yeah! notice how CiC investors are always in the dark. Its like only the Cic board knows what's really going on.

interesting as the day for announcement is upon us 30.5.12.
this sticky thread is conspicuously quiet.

iko sida in the offing.