Express Kenya plans equity raise with 50 million shares

Express Kenya Plc, one of East Africa’s longest-standing logistics and transport operators, is moving to raise fresh capital through the issuance of 50 million new shares, in a bid to shore up its balance sheet and ease persistent debt pressure.

The Nairobi Securities Exchange-listed firm said the equity call is part of a broader restructuring strategy aimed at stabilizing operations after years of rising costs, currency volatility, and tightening margins across the regional logistics industry.

The new shares are expected to be issued at a premium to prevailing market levels, with the company targeting both institutional investors and existing shareholders. Final pricing and allocation details are expected in the coming weeks, according to the company.

Sector-wide strain meets company-level restructuring

The move underscores wider stress in East Africa’s transport and logistics sector, where firms are grappling with elevated fuel costs, infrastructure bottlenecks, and regulatory shifts that have eroded profitability.

For Express Kenya, the capital raise is designed to reduce leverage and improve liquidity at a time when balance-sheet flexibility has become increasingly critical for survival and competitiveness.

From Freight forwarding to diversified real estate play

Once primarily a freight forwarding and customs clearing operator, Express Kenya has gradually repositioned itself into a diversified services group spanning warehousing, consulting, and real estate development.

The company maintains more than 50,000 cubic meters of secure warehousing capacity and serves a client base that includes government agencies, multinational corporations, and regional trade partners.

Its expansion into property development, highlighted by mixed-use projects such as “Project Nexus,” which integrates retail, fuel infrastructure, and residential units, signals a long-term strategy to offset volatility in core logistics operations.