(Bloomberg) -- Kenya's Capital Markets Authority gave Nairobi Business Ventures Ltd. the green light to offer and list 15 million new shares on the securities exchange after the company converted preference stock into ordinary shares.
“The shares that will be issued will not exceed a principal amount of 30 million shillings ($292,626) at a rate of 2 shillings per share,” the shoe maker said Friday in a newspaper statement.
To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net
To contact the editors responsible for this story: Christopher Kingdon at ckingdon@bloomberg.net, Helen Nyambura
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