{{Kenya’s securities market priced shares in its initial public offering at 9.50 shillings ($0.11) on Wednesday, saying it planned a new derivatives market, as it opened up to non-brokers for the first time in 60 years.}}<\/p>\n
The Nairobi Securities Exchange (NSE) is used as an entry point into east Africa by foreign investors seeking exposure to fast-growing economies in the region. <\/p>\n
Several Kenyan firms are cross-listed on neighbouring bourses.<\/p>\n
The business, which was until this year mainly owned by brokers who paid for a membership in the mutual company that ran the market, hopes the listing will enhance transparency and provide funds for new investments.<\/p>\n
The Kenyan government owns a small stake.<\/p>\n
It plans to invest the 627 million shillings raised, if the offer is fully subscribed, in rolling out new products including a derivatives market, offering futures and options.<\/p>\n
Referring to new products in the IPO prospectus, NSE Chief Executive Officer Peter Mwangi said: “Individuals and companies can cushion themselves against interest rate fluctuations, exchange rate volatility, and commodity price changes while boosting liquidity in the underlying assets.”<\/p>\n
Investors in the issue, which will be open from July 24-Aug. 12, will be offered about 31 percent of the NSE’s 212.5 million authorised shares.<\/p>\n
The NSE has assets of 1.4 billion shillings and reported a pretax profit of 379 million shillings last year. It had more than 120 listed equities and bonds at the end of last year.<\/p>\n","protected":false},"excerpt":{"rendered":"
{{Kenya’s securities market priced shares in its initial public offering at 9.50 shillings ($0.11) on Wednesday, saying it planned a new derivatives market, as it opened up to non-brokers for the first time in 60 years.}} The Nairobi Securities Exchange (NSE) is used as an entry point into east Africa by foreign investors seeking exposure […]<\/p>\n","protected":false},"author":3,"featured_media":2000053207,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[99],"byline":[170],"hashtag":[],"class_list":["post-15520","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-greatlakesnews","byline-igihe"],"bylines":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"contributors":[{"id":170,"name":"IGIHE","slug":"igihe","description":"","image":{"id":0,"url":"https:\/\/secure.gravatar.com\/avatar\/?s=96&d=mm&f=y&r=g","alt":"Default avatar","title":"Default avatar","caption":"","mime_type":"image\/jpeg","sizes":[]},"user_id":8}],"featured_image":{"id":2000053207,"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15520.jpg","alt":"","caption":"","mime_type":"image\/jpeg","width":0,"height":0,"sizes":{"thumbnail":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15520.jpg","width":1,"height":1},"medium":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15520.jpg","width":1,"height":1},"medium_large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15520.jpg","width":1,"height":1},"large":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15520.jpg","width":1,"height":1},"full":{"url":"https:\/\/en-images.igihe.com\/IMG\/logo\/arton15520.jpg","width":0,"height":0}}},"_links":{"self":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/comments?post=15520"}],"version-history":[{"count":0,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/posts\/15520\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media\/2000053207"}],"wp:attachment":[{"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/media?parent=15520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/categories?post=15520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/tags?post=15520"},{"taxonomy":"byline","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/byline?post=15520"},{"taxonomy":"hashtag","embeddable":true,"href":"https:\/\/new.igihe.com\/english\/wp-json\/wp\/v2\/hashtag?post=15520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}