Kenya's TransCentury to list shares at 50 shillings

Tue Jul 5, 2011 1:55pm GMT
 

* To list shares at 50 shillings on July 14

* Eyes on future fundraising to fund expansion

* Undertaking a $75 mln euro bond programme, raised $35 mln

NAIROBI, July 5 (Reuters) - Kenyan investment firm TransCentury will list shares on the Nairobi bourse at 50.00 shillings ($0.564), with an eye to raising capital for expansion in the future, the company said on Tuesday.

With more than $150 million in assets, mainly in the energy sector in five African markets, the firm said it will list 417 million ordinary shares on July 14.

"TransCentury is not looking to raise any money through this introduction. Initially we are seeking to become a public company and then over time we will be coming back to raise capital" its Chief Executive, Gachao Kiuna, told a news conference.

The listing comes at the same time as the initial public offering for British American Kenya, which is to sell 650 million shares on July 12.

Kiuna said the listing will open up the company to institutional investors from around the continent.   Continued...

 
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