The Nairobi Securities Exchange (NSE) is on track to register its most active month in recent years, with three new listings expected by the end of July — a major boost for the capital markets after a near 10-year drought in public offers.
The latest firm to join thebourse bourse is the Shri Krishana Overseas (SKL) Limited, a provider of packaging solutions.
SKL joins the stock market a day after the entry of Linzi FinCo 003- a Trust Infrastructure Asset-Backed Security (IABS), listed on the Nairobi Securities Exchange to fund the Talanta Stadium project.
In its debut on the NSE, the packaging firm has listed 50.5 million ordinary shares at an offer price of Sh5.90, with 8.7 million ordinary shares immediately ready for trading.
SKL becomes one of a handful of family-owned enterprises on the NSE, in what the firm says is contributing to the diversification of the market and offering investors exposure to the region’s growing packaging sector.
SKL Managing Director and Founder Sonvir Singh who spoke during the bell ringing occasion, stated that the listing will strengthen the company’s sustainability and provide investors with more opportunities to participate in the promising packaging sector.
“By listing we are giving SKL a firmer footing so that it can last beyond the two founders. The listing requirements will give it the structures necessary to support the company’s long-term sustainability,” said Singh.
“Today’s listing also opens the door for more Kenyan and international investor to share in our success.”
SKL Finance Director and Founder Nirmla Devi noted that the listing will open the door for future capital-raising initiatives.
“Listing on the NSE will now provide us with a platform to fuel our ambitious growth plans, enhance our visibility among investors, and continue our mission to deliver innovative solutions that meet the growing demand for sustainable packaging,” said Devi.
The other expected listing is the long-awaited debut of Kenya Pipeline Company (KPC), which is set to become one of the largest state-owned enterprises on the exchange.
The listing, subject to final Cabinet and parliamentary approvals, will be a landmark move aimed at improving governance and transparency in parastatals, in line with President William Ruto’s privatisation push.
The latest listing was supported by Synesis Capital as lead transaction advisor, with legal counsel from MWC Legal.
Afrek and Associates served as reporting accountants, while Image Registrars provided company secretarial and registrar services. Prakash Associates acted as auditors, and 8 Ball Media was the public relations partner.
