Family Bank will, from June 23, commence trading at the Nairobi Securities
Exchange, ending more than five years of listing speculation.
On Thursday, the lender received approval from the Capital Markets Authority, a move that will see it become the tenth bank at the
Nairobi bourse.
The listing will enable
existing shareholders to buy and sell Family Bank shares on the NSE without the
lender issuing new shares or seeking additional capital from investors.
The mid-tier lender has spent several years strengthening its capital base and improving
profitability ahead of its market debut.
The bank's top ten shareholders
collectively control 59.1 per cent of the issued shares, while other investors
hold the remaining 40.9 per cent.
"Our vision to
positively transform people's lives in Africa has remained unchanged and this
listing will accelerate the realization of that vision,"
managing director Nancy Njau said in a statement.
"The decision for the
Bank to list follows years of strategic preparation to ensure we list from a
position of strength."
Family Bank said its decision
to pursue a listing by introduction was underpinned by its strong capital
position.
The bank does not intend to
raise fresh funds through the transaction, having already bolstered its balance
sheet through a private placement in 2025 that raised Sh8 billion, surpassing
its initial Sh6.09 billion target.
It traces its origins to Family Finance Building Society, established in 1984, before transitioning into a fully-fledged commercial bank in 2007.
The shareholder register is dominated by institutional and long-term investors. As of December 31, 2025, Kenya Tea Development Agency (Holdings) was the lender's largest shareholder with an 18.98 per cent stake, followed by the estate of Rachael Njeri Muya at 10.05 per cent and Daykio Plantations Limited at 9.53 per cent.
The lender is joining the
Nairobi bourse just three months after Kenya Pipeline Company listed as
the sixth most valuable stock.
At a listing valuation of Sh163.6
billion, it is the first pure infrastructure company to break into that tier.
The news of the listing did not, however, excite the market.
The NSE
reported low activity during the week, with NASI, NSE 25 and NSE 20 share
price indices decreasing by 0.17 per cent, and 0.41 per cent and 0.06 per cent.
Market capitalisation, total shares
traded and equity turnover also decreased by 0.17 per cent, 23.38 per cent and
26.71 per cent, respectively.
Bond Market Bond turnover in the
domestic secondary market increased by 90.53 per cent during the week ending
June 12 to close at Sh48.3 billion compared to Sh25.3 billion the previous
week.
In the money market, the Treasury bill
auction of June 11 received bids totaling Sh39.3 billion against an advertised
amount of Sh24.0 billion, representing a performance of 163.9 per cent.
Interest rate on the 91-day, 182-day
and 364-day Treasury bills increased marginally for the fifth week in a row as
state securities gain popularity amongst investors due to lower lending rates.
In the Treasury bond tap sale auction of
June 8, the reopened 15-year and 25-year treasury bonds received bids totaling
Sh8.7 billion against an advertised amount of Sh15 billion, representing a
performance of 58.4 per cent.
