Centum Investment Company Limited (NASE:ICFC.O) has announced plans to raise its stake in Longhorn Publishers Ltd. (NASE:LKL.O) to over 50% during the upcoming rights issue. Centum plans to spend KES 390 million and take up 51% of the publisher's shareholding. "They intend to take up at least 50 percent of total available rights," the publisher said in a statement, "This might take their shareholding to above 51 percent," Longhorn Managing Director Simon Ngigi said.

"Centum has no intention to take-over the company and requisite approvals and waivers from the Capital Markets Authority and Competition Authority have been sought and received," said Simon Ngigi.