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Shareholders of NIC Bank have given the nod for the listed lender to raise Sh2.1 billion via a Rights Issue. The proceeds of the Rights Issue will be used to accelerate its regional expansion bid, as it eyes a larger slice of the East African cross-border financial market.
The move paves the way for NIC Bank, one of the oldest listed firms on the Nairobi Securities Exchange, to seek approval for the transaction from the Capital Markets Authority.
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