Home Afrika Limited, one of the leading real estate developers, has today listed some 405,255,320 ordinary shares with a reference price of 12 shillings at a unique listing ceremony which marked the company's debut on Nairobi Securities Exchange, Growth Enterprise Market Segment (GEMS).
The company made history by being the first real estate company to be listed at the NSE and the first company to list on Growth Enterprise Market Segment (GEMS) which was introduced as an avenue for growing companies to access the securities exchange.
NIC Capital is the Nominated Advisor for the listing while, PKF, Mboya Wangong'u & Waiyaki and Redhouse Public Relations are the Reporting Accountants, Legal and Communication Advisors respectively. Cooperative Bank is the Registrar.
The stock was traded at 25 shillings at 2 p.m. in the capital, Nairobi, after starting trade at 12 shillings.
About Home Afrika Ltd
Home Afrika started as an investment club in 2008 before steadily growing over the last five years to become the public company that is today worth well over US$100 million. Home Afrika plans to build one million homes in the next 10 years across Africa.
The company is currently involved in three projects valued at over KSh10 billion and is focusing on undertaking about 10 projects as part of its five-year strategic plan. Its growth plan seeks to achieve its strategic objective of attaining a project turnover of US$ 1.0 billion within the next five years.
Source: NSE
