….expected NSE listing comes after raising $62 million
Family Bank will begin trading its shares on the Nairobi Securities Exchange (NSE) on June 23, following approval from the Capital Markets Authority (CMA), marking the culmination of a five-year journey to become a publicly traded company.
The lender will be listed by way of introduction, a process that allows existing shareholders to trade their shares on the exchange without the issuance of new stock, according to a statement on Thursday. The move is expected to broaden investor participation while providing liquidity for current shareholders.
The listing comes at a crucial time for Kenya’s capital markets, as the NSE seeks to revive new listings following years of subdued activity. In recent years, the market has been dominated by bond issuances, rights offers and secondary share sales, with few companies pursuing public listings.
The bank’s market debut follows a successful private placement completed
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