KenGen cierra financiamiento de desarrollo por $272 millones
Olkaria I Units 4 & 5 Geothermal Plant. Source: KenGen
carlos Jorquera
1 Mar 2017
KenGen está a punto de cerrar su campaña de levantamiento de fondos de hasta $272 millones, la que incluirá la participación de un fondo de pensiones de Sudáfrica, Public Investment Corp, que tomará una participación del 5% de las acciones de la compañía.
(PiensaGeotermia en “modo vacaciones”)
We have been reporting about plans of Kenya Electricity Generating Company (KenGen) for fundraising for its development activities. It now seems the company has entered into a deal that could see it completed the sale of the 4.4 billion shares that were on offer during its rights issue offer in 2016, as reported by Citizen TV.
This follows news, that South African pension fund, Public Investment Corporation entered into talks with KenGen to buy the remaining 351.2 million shares that were not taken up during the offer.
The deal is valued at Sh2.3 billion, meaning KenGen has hit its initial target to raise Sh28.7 billion or around $272 million.
With the deal, South Africa-based Public Investment Corp. will have a stake of 5.33% in KenGen. This is though still subject to regulatory approval in Kenya.
KenGen has been on a capital raising agenda as it plans massive investments in energy projects.
The firm has ongoing projects in the Olkaria geothermal fields as well as plans to construct a wind park in Meru.”
Source: Citizen TV Kenya // ThinkGeoEnergy
