EXECUTIVE WATCH: BK group launches 4th subsidiary

BK Group. Courtesy.

BK Group will this week formally add the fourth subsidiary to the stable with the launch of BK Capital.

The firm currently has three subsidiaries in banking, insurance and technology.

By formally establishing presence in the group could be seeking to increase presence in securities and brokerage which has been tipped as an emerging sector given demand.

The group cross-listed on the Nairobi Securities Exchange (NSE) in November 2018 with the move expected to increase the group’s liquidity and enable it to raise adequate capital.

The proceeds of the capital is expected to go into financing growth strategy of subsidiaries to ensure that adequately capitalized.

The cross-listing came after BK Group had floated 222.22 million new shares through a rights.