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jeg_nav_right jeg_nav_normal"><div class="item_wrap jeg_nav_alignright"><div class="jeg_nav_item jeg_search_wrapper jeg_search_popup_expand"> <a href="#" class="jeg_search_toggle"><i class="fa fa-search"></i></a><form action="https://kenyanwallstreet.com/" method="get" class="jeg_search_form" target="_top"> <input name="s" class="jeg_search_input" placeholder="Search..." type="text" value="" autocomplete="off"> <button aria-label="Search Button" type="submit" class="jeg_search_button btn"><i class="fa fa-search"></i></button></form><div class="jeg_search_result jeg_search_hide with_result"><div class="search-result-wrapper"></div><div class="search-link search-noresult"> No Result</div><div class="search-link search-all-button"> <i class="fa fa-search"></i> View All Result</div></div></div></div></div></div></div></div></div><div class="sticky_blankspace" style="height: 60px;"></div></div><div class="jeg_ad jeg_ad_top jnews_header_bottom_ads"><div class='ads-wrapper '><div class='ads_code'></div></div></div><div class="post-wrapper"><div class="post-wrap" ><div class="jeg_main "><div class="jeg_container"><div class="jeg_content jeg_singlepage"><div class="container"><div class="jeg_ad jeg_article_top jnews_article_top_ads"><div class='ads-wrapper '></div></div><div class="entry-header"><h1 class="jeg_post_title">HF Group to Raise KShs 6bn in Rights Issue after CMA Nod</h1><div class="jeg_meta_container"><div class="jeg_post_meta jeg_post_meta_2"><div class="meta_left"><div class="jeg_meta_author coauthor"> <img data-del="avatar" alt="Zainab Hafsah" src='https://kenyanwallstreet.com/wp-content/uploads/2024/06/PHOTO-2024-06-05-08-40-34-1-96x96.jpg' class='avatar pp-user-avatar avatar-80 photo ' height='80' width='80'/><span class="meta_text ">by</span><a href="https://kenyanwallstreet.com/author/zainab-hafsah/">Zainab Hafsah</a></div><div class="jeg_meta_date"> <a href="https://kenyanwallstreet.com/hf-group-to-raise-kshs-6bn-in-rights-issue-after-cma-nod/">October 28, 2024</a></div><div class="jeg_meta_category"> <span><span class="meta_text">in</span> <a href="https://kenyanwallstreet.com/category/banking/" rel="category tag">Banking</a><span class="category-separator">, </span><a href="https://kenyanwallstreet.com/category/kenyan-news/" rel="category tag">Kenyan News</a><span class="category-separator">, </span><a href="https://kenyanwallstreet.com/category/markets/" rel="category tag">Markets</a><span class="category-separator">, </span><a href="https://kenyanwallstreet.com/category/real-estate/" rel="category tag">Real Estate</a> </span></div><div class="jeg_meta_reading_time"> <span> Reading Time: 2 mins read </span></div></div><div class="meta_right"></div></div></div></div><div class="row"><div class="jeg_main_content col-md-8"><div class="jeg_inner_content"><div class="jeg_featured featured_image "><a 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heateor_sss_s_telegram" style="background-color:#3da5f1;width:70px;height:35px;border-radius:10px;display:inline-block;opacity:1;float:left;font-size:32px;box-shadow:none;display:inline-block;font-size:16px;padding:0 4px;vertical-align:middle;background-repeat:repeat;overflow:hidden;padding:0;cursor:pointer;box-sizing:content-box"><svg style="display:block;" focusable="false" aria-hidden="true" xmlns="http://www.w3.org/2000/svg" width="100%" height="100%" viewBox="0 0 32 32"><path fill="#fff" d="M25.515 6.896L6.027 14.41c-1.33.534-1.322 1.276-.243 1.606l5 1.56 1.72 5.66c.226.625.115.873.77.873.506 0 .73-.235 1.012-.51l2.43-2.363 5.056 3.734c.93.514 1.602.25 1.834-.863l3.32-15.638c.338-1.363-.52-1.98-1.41-1.577z"></path></svg></span></a></div><div class="heateorSssClear"></div></div><div class='heateorSssClear'></div><br/><p>HF Group is seeking to raise up to KSh6 billion through a rights issue after approval by the Capital Markets Authority (CMA).</p><ul><li>The approval will see the listed lender, formerly known as Housing Finance, offer up to 1.5 billion new ordinary shares at KSh4.00 per share – a KSh0.52 discount.</li><li>The rights Issue will offer shareholders two new ordinary shares for every one existing ordinary share held, with the shareholders having the option to apply for additional shares (greenshoe option). </li><li>The capital, the listed lender says, is aimed at expanding product offering, strengthening technology platforms to position itself for future growth.</li></ul><p>“The group is raising capital as part of its strategy to increase investments in its expanded business segments and to shore up its capital base to ensure it is sufficiently capitalized,” HF Group said in a statement.</p><div class="jeg_ad jeg_ad_article jnews_content_inline_ads "><div class='ads-wrapper align-center '><div class='ads_code'><SCRIPT language='JavaScript1.1' SRC="https://ad.doubleclick.net/ddm/trackimpj/N1741099.5084810ADVERTISINGOPS/B32246848.400359255;dc_trk_aid=592686366;dc_trk_cid=219727396;ord[timestamp];dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=;gdpr=${GDPR};gdpr_consent=${GDPR_CONSENT_755};ltd=;dc_tdv=1?"attributionsrc ></script></div></div></div><p>“The capital injection will also allow the group to continue to implement its growth strategy through its investments in growing business segments and enhancing its digital proposition.”</p><p>The issue includes a 30% greenshoe option or 384.6 million shares to accommodate any potential oversubscriptions and will be listed at the Nairobi bourse.</p><p>Britam Group, <a href="https://kenyanwallstreet.com/hf-group-rights-issues-30-greenshoe-option/">HF Group’</a>s major shareholder, has confirmed that it will be taking up its full Rights with other principal shareholders also supportive of the Transaction. The Offer will open on 12th November 2024, and close on 9th December 2024 at 5pm with the book closure date set on 1st November 2024.</p><p>HF Group is listed at the Nairobi bourse under the ticker symbol HFCK, currently trading at KSh4.52 per share and a book value of KSh24.22. The current price reflects a 29.9% year to date gain.</p><p>“This capital investment marks a pivotal milestone in HF Group’s ongoing transformation journey and reinforces our dedication to delivering long-term value to our stakeholders,” Robert Kibaara, <a href="https://www.hfgroup.co.ke/about-us">HF Group</a>’s CEO said in a statement.</p><figure class="wp-block-embed is-type-wp-embed is-provider-kenyan-wall-street-business-markets-amp-finance-insights wp-block-embed-kenyan-wall-street-business-markets-amp-finance-insights"><div class="wp-block-embed__wrapper"><blockquote class="wp-embedded-content" data-secret="rCPzxoJCPk"><a href="https://kenyanwallstreet.com/hf-group-reports-a-net-profit-of-kes-257-m/">HF Group Reports a Net Profit of KES 257 Million in 2022</a></blockquote><iframe class="wp-embedded-content" sandbox="allow-scripts" security="restricted" style="position: absolute; clip: rect(1px, 1px, 1px, 1px);" title="“HF Group Reports a Net Profit of KES 257 Million in 2022” — 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