The Nairobi Securities Exchange Limited (NSE) officially launched today its Initial Public Offering (IPO) at the Exchange.
The NSE is seeking to raise Kshs.627,000,000.00 by selling up to 66,000,000 new shares at a price of Ksh 9.50 per share. The minimum number of shares available for purchase is 500 and will cost Kshs.4,750.00. Thereafter purchases are in multiples of 100 shares.
The offer which will run from Thursday July 24, 2014 and close on Tuesday, August 12, 2014 is open to domestic and international investors. Interested parties will have fourteen (14) working days to participate in the offer.
The IPO will culminate with the self listing of the NSE on the Main Investment Market Segment (MIMS) in September. After the self-listing, the NSE will join the Johannesburg Stock Exchange (JSE) as the second Exchange in Africa to demutualize and list itself.
IPO Calendar
| DATE | ACTIVITY |
| July 23, 2014 | IPO Launch |
| July 24, 2014 | IPO Opens |
| August 24, 2014 | Close of IPO |
| September 4, 2014 | Share Allotment Announcement |
| September 9, 2014 | Self-Listing Ceremony |
Joint Lead Transaction Advisors
Standard Investment Bank Limited, Dyer and Blair Investment Bank Limited and Renaissance Capital Kenya Limited.
Co-Sponsoring Stockbrokers
ABC Capital Ltd, AIB Capital Ltd, Apex Africa Capital Ltd, CBA Capital Ltd, Francis Drummond & Company Ltd, Equity Investment Bank Ltd, Kestrel Capital (East Africa) Ltd, Old Mutual Securities Ltd, SBG Securities Ltd, Sterling Capital Ltd and Suntra Investments Ltd.
