Centum of Kenya Snaps 7-Day Decline as Bonus Shares Sale Eases
The shares jumped as much as 2.6 percent to 14 shillings before trading 0.4 percent higher at 13.7 shillings as of 1:03 p.m. in the capital, Nairobi.
“The downfall was temporary because it was an initial sell off that comes when companies give bonus shares and everyone was selling their bonus shares,” George Bodo, an equity strategist at Nairobi-based Apex Africa Capital Ltd, said by phone today.
Centum offered one bonus share for every 10 held, resulting in the issue of an additional 60.5 million shares to stockholders.
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