Deacons Kenya will on second August 2016 list 123,558,228 shares on the Nairobi Securities Exchange at KSh 15 per share by way of introduction on the AIM segment of the exchange.
The clothing retailer’s shares have been trading on OTC (over-the-counter) market for the last six years and trading on this market is expected to stop next Monday.
“The shares will be listed on alternative investment market of the Nairobi Securities Exchange on August 2, 2016,” said the company in a statement.
Deacons operates clothing outlets such as Truworths and Mr Price in four markets; Kenya, Uganda, Rwanda and Mauritius.
The company had sold some its shares to a select number of investors in 2010 through a private offer. Deacons was selling 12,800,000 shares at Sh62.5 each during the private offer aiming to raise Sh800 million. The offer was 87.5 per cent subscribed raising Sh700 million.
Kestrel Capital has been picked as its transaction advisers with Coulson Harney as legal advisers and Deloitte & Touche as the reporting accountants.
