Nairobi, Sept. 3 -- NCBA Group shareholders who have sold a 66 percent stake to Nedbank have booked a capital gain of Sh21.4 billion on the 43.63 million discounted shares of the South African bank.

Nedbank revealed last month that Kenyan investors will be handed a stake equivalent to 8.4 percent of the transaction, at a stake equivalent to 8.4 percent of its issued shares in the transaction, valued at Sh10.1 billion as per the terms of sale agreed in January.

The South African bank is buying the NCBA stake under a hybrid compensation plan in which 80 percent of the consideration is made via a share swap, and 20 percent in cash.

The stock option was done at a conversion rate of 4.02994 shares for every 100 NCBA shares.

The Nedbank sha...