Standard of Kenya Rises to More Than 1-Week High on Redemption
Standard Group Ltd. (STNG), Kenya’s second- biggest media company, rose to the highest in more than a week after saying it would redeem preference shares.
The stock jumped 4.6 percent to 39.75 shillings at 2:42 p.m. in Nairobi, the biggest increase since March 24.
“Preference shares shall be redeemed at a value of 10 shillings per share and cum dividend on April 18,” the company said today in an e-mailed statement to the Nairobi Stock Exchange.
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