Nakumatt Plans Initial Public Offer in Kenya Within 5 Years
This article is for subscribers only.
Nakumatt Holdings Ltd., East Africa’s biggest retail chain by outlets, plans to start trading on the Kenyan stock exchange within five years and cross-list in the region, Managing Director Atul Shah said.
The Kenyan company will sell a 20 percent equity stake early next year to fund expansion, Shah said by phone today from Kenya’s capital, Nairobi. After four or five years, the Kenyan retailer plans to sell a 20 percent to 25 percent stake in an initial public offering on the Nairobi bourse, he said.