The Nairobi Securities Exchange, sub-Saharan Africa’s third biggest by market value, is targeting five listings this year on its Growth and Enterprise Market Segment trading board, which was introduced today.
The stock exchange is focusing on attracting the 100 biggest mid-size companies to list, Donald Ouma, the NSE’s head of market and product development, told reporters in Nairobi, the capital. Eight advisers, which will bring the companies onto the bourse, are registered and the five companies expected to join the new board this year are in services and consumer goods industries, he said. Ouma declined to identify them.
Companies listed on the new board must have capital of 10 million shillings ($114,877) and place at least 15 percent of their shares on the market. Companies on the main board must have 50 million shillings and sell 25 percent of their shares.
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