Housing Finance shareholders are expected to raise the Bank's share capital from 575 million to 1.18 billion shillings ($16.8 million) by creation of 120.75 million new shares or one new share for each existing share held. About 5% of the shares are reserved for the company's employees leaving 115 million shares to be added to the company's listing on the NSE.
HFCK and S&L (owned by KCB) are still a major player in the mortgages sector which is becoming a crowded field with new entrants Stanbic, Standard Chartered, and next to be joined by cash rich Equity Bank.
