The sale of 48 per cent of Kenya Airways to local and international investors looked set to be massively oversubscribed after the offer price was set at KS11.25 ($0.19) per share against an asset value of KS17.38 per share. The issue was due to close in mid-April. The carrier is predicting a pre-tax profit of $29.5 million to 31 March 1996.
Source: Airline Business