...in layman language, it means the stocks will not be at the NSE, i.e. not a public offer as we had in safaricom.
The main shortcomings of privately held stocks is lack of liquidity, lack of information and lack of control.
However, most privately held firms benefit from more flexibility in decision making (less bureacracy). They are usually priced at discounts to allow for their illiquidity, lack of control and information deficiency. When such firms are finaly listed at the NSE, that discount becomes like a bonus to the existing shareholders...