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TransCentury of Kenya Surges 14% on First Day of Trading

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July 14 (Bloomberg) -- TransCentury Ltd., a Kenyan investor in infrastructure projects, surged 14 percent on its first day of trading on the Nairobi Stock Exchange.

The stock, which was listed by introduction today, closed at 57 shillings by 3 p.m. in the capital, Nairobi, rising from the reference price of 50 shillings, according to data provided by the bourse.

TransCentury’s profit doubled to 468.3 million shillings ($5.21 million) in 2010 as revenue jumped 26 percent. The company, which is active in seven African countries, is investing in infrastructure, transport, engineering and consumer-goods assets, Chief Executive Officer Gachao Kiuna said May 28.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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