Tanzanian Billionaires Buy 7 Million Shares in Equity Group
Tanzanian billionaires Aunali and Sajjad Rajabali have bought seven million shares of Equity Group worth Ksh344 million ($3.4 million), expanding their investment in Nairobi Securities Exchange-listed firms. Their purchase of the bank’s stock is disclosed in the lender’s May regulatory filing of its ownership structure. The duo has invested more than Ksh1.5 billion ($14.8 million) [...]
Tanzanian billionaires Aunali and Sajjad Rajabali have bought seven million shares of Equity Group worth Ksh344 million ($3.4 million), expanding their investment in Nairobi Securities Exchange-listed firms.
Their purchase of the bank’s stock is disclosed in the lender’s May regulatory filing of its ownership structure.
The duo has invested more than Ksh1.5 billion ($14.8 million) in NSE-listed firms over the past two years, taking significant stakes in companies such as Co-op Bank, KenolKobil, Jubilee Holdings and I&M Holdings.
The Rajabalis are now ranked seventh in Equity’s list of top individual investors with a 0.19 per cent stake.
Most Efficient Bank
Equity has cemented its position as the country’s most efficient bank with an annualised return on equity (RoE) of 28.5 per cent after reporting a 21.4 per cent growth in net profit to Ksh5.8 billion ($57.4 million) in the first quarter ended March.
View the Equity Group Bank company page
Read complete Article: allAfrica
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