Sharp Daily
No Result
View All Result
Sunday, September 7, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home Business

I&M Group to raise KES 4.2 billion in share deal with EAGH

Huldah Matara by Huldah Matara
October 16, 2024
in Business
Reading Time: 1 min read

I&M Group PLC has announced a proposed subscription agreement with East Africa Growth Holding (EAGH) involving the issuance of up to 86.5 million new ordinary shares. The announcement, made on October 15, 2024, details that the shares will be issued at a subscription price of KES 48.42 per share, representing approximately 4.97% of the company’s expanded total share capital.

The deal, which is subject to regulatory and shareholder approval, marks a significant transaction for I&M Group, a publicly listed company in Kenya. The company’s board of directors has already approved the agreement, which will see EAGH subscribe to the newly issued shares, providing fresh capital to the company.

According to the company’s statement, the completion of this transaction is contingent upon the satisfaction of various regulatory requirements, as well as shareholder endorsements. The Capital Markets Authority, which regulates public offers and listings in Kenya, is overseeing the process under Chapter 485A of the laws of Kenya.

I&M Group cautioned that this transaction could have a material impact on the trading price of its shares, encouraging shareholders and the public to “exercise due caution when dealing in the shares of the Company.” The board also emphasized that further details of the transaction would be shared with shareholders in due course.

RELATEDPOSTS

I&M Group appoints David Thuoi Ngata as Group CFO as Dr. Nyambura Koigi retires

November 5, 2024

I&M Group reports KES 8.7 billion profit in H1 2024

September 15, 2024

The agreement represents an important step in expanding I&M Group’s capital base, with EAGH’s involvement signifying confidence in the company’s future prospects.

With the subscription price set at KES 48.42 per share, the new issuance is expected to provide significant capital inflows to support I&M Group’s strategic initiatives and growth objectives.

Previous Post

JPMorgan names Sailepu Montet to head new Kenyan office

Next Post

Mutuse sweats under cross-examination in Gachagua impeachment hearing

Huldah Matara

Huldah Matara

Versatile multimedia journalist with a keen interest in compelling stories that resonate with my audience. Reach out on huldahmatara12@gmail.com

Related Posts

Analysis

Why private credit gaining traction in emerging markets

August 21, 2025
Analysis

EABL posts 12.2% profit surge, strengthens regional footprint despite rising illicit trade

August 1, 2025
Business

Shri Krishana Overseas lists on NSE

July 25, 2025
Business

Del Monte foods files for bankruptcy in USA

July 3, 2025
Analysis

Lessons from the Kuramo-TransCentury fallout

July 3, 2025
Business

Competitive advantages of small businesses

June 26, 2025

LATEST STORIES

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025

Why knowing your pension exit options matters, especially in the public sector

September 5, 2025

Breaking the Silence: Understanding and Supporting Suicide Awareness Month

September 5, 2025

Strategic financial moves steer Kenya’s economic stability

September 4, 2025
Private equity investment business concept

Private equity and insurance

September 4, 2025

How reforming payroll taxes can stabilize employment trends

September 4, 2025

How public ratings could shift healthcare dynamics in Kenya

September 4, 2025

Boosting Your Retirement Savings with Additional Voluntary Contributions (AVCs)

September 4, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024