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Sports-Betting Firm Tied to Arsenal Weighs Kenyan IPO

  • Listing would rank firm among exchange’s 10 biggest companies
  • Kestrel Capital is said to be appointed as transaction adviser
Updated on

SportPesa Ltd., an online-betting company with operations in Africa and the U.K., plans to list on the Nairobi Securities Exchange in the first quarter of next year, according to two people familiar with the matter.

The firm, with 100 billion shillings ($1 billion) of annual revenue, may rank among the 10 biggest companies on the exchange if the IPO goes ahead, said one of the people. Both asked not to be identified because the information is private. The listing would be the first in Nairobi since August 2016, when clothing retailer Deacons East Africa Plc began trading.