Family Bank has extended its Kes 9.3 billion right issue exercise unveiled in October 2023 that was to end in a subsequent month to January 31, 2024.
The exercise will see the lender offer its existing shareholders an extra share for every two owned at a cost of Kes 14.5 each.
The lender earlier announced that it will pump proceeds from the right issue to fund its regional expansion and IT and infrastructure.
“Kindly note that the Board of Directors has extended the Rights Issue Closure Date to 31st January 2024,” Family Bank Company Secretary, Eric Murai said.
“Dear Shareholder, We encourage our shareholders to take advantage of the discounted rights offer and the extended rights period to take up their rights.”
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Family Bank has 93 branches, 5,900 agents, and 144 ATMs across 32 counties.
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