In yesterday’s trading the Kenya Airways (KQ) share hit the KES 16 mark and continued to attain an all-month high of KES 16.30 per share. This is the highest the share has attained since 14th March when it fell to KES 14.37 from KES 17.60 five days earlier.
This is good news to shareholders as it comes a few weeks before the company announces the results of their rights issue. Before the rights issue the share was struggling to trade at the rights issue price of KES 14 per share, during the issue the share traded above KES 14 and attained a high of KES 14.95 just before the issue closed. After the issue the share has traded above KES 14 but at a constant decline reaching a low of KES 14.25. However, the declining trend seems to have come to an end on the 9th of May the share and since then it has been on a steady increase.
The counter’s performance yesterday is illustrated below:
As at the end of business yesterday the share closed at KES 16.10 per share.