Credit Bank Plans Kenya’s First IPO in Nine Years on NSE

Credit Bank Plc plans to raise one billion shillings ($6.89 million) on the Nairobi Securities Exchange, in what would be the bourse’s first initial public offering since 2014.

The timing of the planned listing and portion of shares to be offered are subject to regulatory and investors approval, Grace Nyachae, a director at the Kenyan lender, said in a statement. The bank plans to raise an additional one billion shillings after it lists, she added.