July 5, 2011 / 2:00 PM / 9 years ago

Kenya's TransCentury to list shares at 50 shillings

* 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.

He said the investment firm had undertaken a euro bond programme, through its subsidiary TC Mauritius, to raise $75 million and had raised $35 million to date.

The bond was issued at a coupon rate of 6.0 percent and it matures in 2016, the information memorandum indicates.

TransCentury plans to increase its presence in the African countries it already operates in and to enter new, high growth markets on the continent.

The firm has invested in Kenyan cables manufacturer East African Cables , a transformer manufacturer in Tanzania, Rift Valley Railways and engineering firm Avery East Africa among other investments.

“Our first focus is infill’s in geographical areas that we are already covered like Malawi, Zambia and Mozambique. we will be making more acquisition in these markets,” Kiuna said.

"We are also looking at high growth markets like Nigeria and Angola, where major reforms in infrastructure are taking place." ($1=88.70 Kenyan Shilling) (Reporting by Kevin Mwanza; Editing by Louise Heavens) (For more Reuters Africa coverage and to have your say on the top issues, visit: af.reuters.com/)

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