KenGen Shares Plunge as Company Announces Biggest Rights Issue

  • Company stock falls by most since January following statement
  • Kenyan utility names Renaissance Capital transaction adviser

Shares of Kenya Electricity Generating Co. plunged by the most since January after the Nairobi-based company said it plans to raise 28.8 billion shillings ($286.3 million) in East Africa’s biggest-ever rights offer.

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