•The Capital Markets Authority and the CBK have granted the lender the green light for listing on the mains segment.
•Credit Bank achieved regulatory approval to transfer a 20% stake to Mauritius-based private equity fund, Shorecap III, LP
Credit Bank targets to list its shares on the Nairobi Securities Exchange (NSE) by the end of 2023, aiming to raise at least Sh1 billion from the public.
Grace Nyachae, the bank's longest-serving director told the Star that move is in line with the bank's vision to expand its market presence and attract a wider range of investors.
She said the listing is anticipated to bring a host of advantages to both the bank and its shareholders, ranging from increased visibility, improved liquidity and access to a broader investor base.
"This pivotal step of listing on the NSE will open up a new avenue for public investment and deepen our connection with the community and partners," she said.
Nyachae said the Capital Markets Authority and the Central Bank of Kenya have already cleared the lender for listing on the main segment.
"We’re elated to meet the standards for listing in the NSE’s main investment segment," she said.
This year, Credit Bank achieved regulatory approval to transfer a 20% stake to Mauritius-based private equity fund, Shorecap III, LP.
The listing aims to elevate Credit Bank's standing from a tier 3 to a tier 2 bank.
"Our shareholder equity has grown from Ksh 1.4 billion in 2015 to Ksh four billion this year," Nyachae pointed out adding that with the listing the goal is to raise an additional Ksh 1 billion.