Business Daily | by Victor Juma
Crown Paints is set to raise Sh711.8 million through a rights issue, bringing back a form of funding companies that has been absent among Nairobi Securities Exchange-listed firms in recent years.
The company plans to sell a total of 71.1 million shares to existing shareholders, pricing the offer at Sh10 per share.
This represents a 76.4 percent discount to its share price of Sh42.5 on the Nairobi bourse as of Thursday.
Crown says the money will be used to reduce its debt load and…
