KCB Group has listed 142.9 million new shares worth KSh6.2 billion allotted to former NBK shareholders following the NBK acquisition. The listing follows an all transaction acquisition, which has lifted KCB’s total market capitalization to KSh 135.6 billion. Previously, KCB’s market capitalization stood at 129.3 billion.
The new shares will mostly be taken up by the Treasury and NSSF who were the major owners of National Bank.
KCB’s acquisition of NBK has seen a rise in the Group’s share price. According to MyStocks, KCB Group share price is trading at KSh 42.15 as compared to KSh 40 per share at the same time in September. The NBK acquisition and the NSE listing moves KCB shares from 3.07 billion units to 3.21 billion stocks.
While the NBK acquisition is complete, the bank’s integration into KCB will take two years. Meanwhile, KCB will take the two years to restructure NBK’s top leadership.