This archive report was first published on 4 October 2019.
On October 4, 2019, KCB Group listed 142.9 million new shares worth KSh6.2 billion allotted to former NBK shareholders following the NBK acquisition. The listing marked a significant milestone in the all-share transaction, which has lifted KCB's total market capitalization to KSh 135.6 billion.
The new shares will mostly be taken up by the Treasury and NSSF, who were the major owners of National Bank. This move has seen a rise in KCB's share price, with the Group's share price trading at KSh 42.15 as compared to KSh 40 per share at the same time in September, according to MyStocks.
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.
