Kenya Airways Cash Call Hits 70 Pct Demand

June 8, 2012

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Kenya Airways raised 14.5 billion shillings (USD$171.45 million) from a USD$250 million rights issue that received a subscription rate of 70.06 percent, it said in statement seen by reporters.

The airline, which is 26 percent held by Air France-KLM, sought to raise the cash to fund the purchase of new planes ahead of a planned routes and flights expansion.

The success rate of the issue was pegged at 70 percent.