Kenya Airways has released the results for the recently concluded rights issue.

After several postponements, the KQ results have been released, featuring predominantly in the major dailies this morning.

Of the 1.477 billion shares in offer, 70.06 percent of the shares were taken up by shareholders. The company attempted to raise KES 20.68 billion in what would have been the biggest cash-call in the country.

The numbers

Existing shareholders have accepted about 839 million new shares with a total value of about KES 11.755 billion. Existing shareholders have applied for 42 million additional new shares with a total value of about KES 588 million. The total number of new shares accepted by new shareholders is about 142 million shares with a total value of approximately KES 1.987 billion. The grand total number of new shares applied for under the rights issue is 1.035 billion shares with a total value of KES 14.488 billion. The subscription rate of the shares is 70.06 percent.

Major shareholders

The Government of Kenya's stake in Kenya Airways has reached 29.80 percent following its application to get its full entitlement of shares, this depending on confirmation from the Capital Markets Authority. KLM also applied for its full entitlement but its application was scaled down such that its shareholding in KQ will increase to 26.73 percent from the current 26 percent position.

All applicants will receive 100% of the new shares applied for.

Read the full results here