Foreign investors pulled out Sh1.48 billion from the Nairobi Securities Exchange (NSE) last month. This marks the second straight month of net-selling amid the prevailing rise in stock prices. Data from trading and corporate advisory firm AIB-AXYS Africa shows that foreigners bought shares worth Sh6.75 billion but sold others valued at Sh8.24 billion during the […]
Sponsors, also adopters of the elephants, received a certificate and an image of their adopted elephant. [Courtesy] The first Tembo Naming Festival was held yesterday at the Amboseli National Park , where more than 20 elephants were given names. The sponsors, also adopters of the elephants, received a certificate and an image of their adopted […]
The Nairobi Securities Exchange (NSE) has commenced trading of the East African Breweries Plc Kshs. 11 billion bond issue listed on Monday. EABL targets to use funds from the Medium-Term Note to finance investments in expanding production, repay debts taken in the ordinary course of business refinance short-term borrowings and provide working capital. EABL Group […]
Alcoholic beverages manufacturer East African Breweries Limited (EABL) has issued new medium term notes (MTN) from which it seeks to raise Ksh.11 billion in new debt. The notes to be listed at the Nairobi Securities Exchange (NSE) have a tenure of five years with a fixed yield of 12.25 per cent per year to be […]
NSE chief executive Geoffrey Odundo monitors daily trading at the Nairobi Bourse/ Shareholders’ wealth at the Nairobi Securities Exchange hit the highest level ever on a year-on-year basis in the first nine months of 2021, driven by recovery from the effects of Covid-19. The Capital Market Authority’s Q3 statistical bulletin shows market capitalisation at the […]
East African Breweries Limited ( EABL ) said yesterday its Sh11 billion bond was oversubscribed by more than three times signalling renewed investor confidence in the previously troubled local bond market. Investors bid a total of Sh37.9 billion in the issuing round, EABL said, representing an oversubscription of 275 percent. “We issued this medium-term note […]
Data by the Ministry of Industrialisation shows the number of registered companies in Kenya stands at over 310,000 Out of the figure, only 65 are listed at the Nairobi Securities Exchange (NSE) Safaricom tops the list of the richest companies in Kenya followed closely the East African Breweries Ltd Data by the Ministry of Industrialisation […]
Absa Bank Kenya #ticker:ABSA has lent East African Breweries Limited #ticker:EABL (EABL) a total of Sh18.8 billion, breaching the limits placed on lending to a single borrower. The bank had a core capital of Sh46.3 billion as of June, meaning that it should not have lent more than Sh11.5 billion to one entity. The brewer […]
Absa Bank Kenya #ticker:ABSA Thursday revealed it offered East African Breweries Plc #ticker:EABL (EABL) a syndicated loan of Sh18.8 billion to avoid breaching the law with the disclosure of multiple lenders not made public by the brewer in its latest annual report. The bank said it offered EABL a Sh10.8 billion and the remaining amounts […]
East African Breweries Plc (EABL) will now rely on long-term borrowings to fund its capital expenditure, a move it says will improve its liquidity. The company has several multi-billion-shilling loans due within a year, contributing to overall short-term liabilities exceeding its current assets. “The group’s statement of financial position indicates a net current liabilities position […]
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