help me understand ,if they want to raise 15b and they have 2.2 billion shares, it means the ratio will be 1:1 and they can sell the shares at Kshs 7.50 to raise the 15 billion.my maths tells me ordinary Kenyans only own 660 million shares(30%).there will be a massive over subscription on this.

KENGEN dividends paid via EFT

Quasi-public energy company KenGen will announce details of the planned rights issue next month, it said.

Managing director Albert Mugo said the government, which owns a 70 per cent stake in Kenya Electricity Generating Company, is expected give its nod within two weeks, setting the pace for the cash call.

KenGen plans to raise about Sh15 billion in fresh capital finance its projects, including raising energy generation from geothermal sources and wind.

“The way the government takes its position in the rights issue is very critical to the whole cash call, so we have been waiting as they seek relevant approvals, but I can say the discussion is almost concluded,” said Mugo.

He said that a third project expected to supply 70 megawatts of power is short of Sh8.23 billion ($90 million) financing.

KenGen is looking to generate at least 450MW of power by 2017.