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Museveni
#21 Posted : Thursday, January 15, 2015 2:38:06 PM
Rank: Member

Joined: 8/16/2012
Posts: 661
Empire Microsystems to list on NSE first week of March

BD wrote:
In Summary
- The firm said after the listing it would go to the capital markets to raise funds for expansion.
- The debut will make it the first tech company to list on the GEMS and the fifth firm to list on the segment designed for small companies.


BD wrote:
Founder and chief executive James Mworia said since approvals had not been given by December, the IT firm has now decided to include audited results for 2014, which were not in the original information memorandum.

“Then we were working with projections for 2014. We are doing another information memorandum that has full-year results,” Mr Mworia told the Business Daily.

The firm said after the listing it would go to the capital markets to raise funds for expansion. “We will call for funding in the second quarter. We want to set up chargeable Wi-Fi starting with Nairobi County,” he said.

Mr Mworia said he could not give details on the amount the firm would be seeking because transaction advisers are still working on a capital raising programme.

Equity Investment Bank is the transaction adviser and co-sponsoring broker alongside ABC Capital.

OMK Advocates are the legal advisers while Njoroge Kibebe & Associates are the reporting accountants. The Central Depository and Settlement Corporation is the share registrar.

The debut will make it the first tech company to list on the GEMS and the fifth firm to list on the segment designed for small companies.
Live and learn; and don’t forget, nothing ventured, nothing gained.
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  | | Edit by user: Thursday, January 15, 2015 2:40 PM | Reason: Not specified
murchr
#22 Posted : Sunday, February 01, 2015 2:40:18 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Business Daily wrote:

Kenya to have highest number of initial public offerings in East Africa

Listings by African-domiciled companies are currently planned in London and Frankfurt, and more are likely to emerge in the course of the year. Six cross-border IPOs are in the pipeline compared with one completed in 2014.

Data compiled by Thomson One, the data arm of Thomson Reuters, shows Sirrus Corporation, Flame Tree Group, New Kenya Co-operative Ltd, Comcraft Group and Mayfox Mining Company Ltd in Kenya could issue IPOs.


Forbes 2014 wrote:
Kenyan multi-millionaire and manufacturing magnate Manu Chandaria, the chairman of Comcraft Group, an industrial conglomerate with interests in aluminum, steel, plastics and information technology, plans to list some subsidiaries of his conglomerate on a stock exchange.

Chandaria, speaking recently to Reuters, said that both the steel and aluminum businesses of the group could be listed within the next two or three years.

"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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VituVingiSana
#23 Posted : Monday, February 02, 2015 10:08:43 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
Comcraft will not sell the firm at a discount but it is good to see them listing. One of the issues Mabati Rolling Mills has faced is high(er) cost of KES debt... Could an equity raise help reduce interest costs?
Another benefit is the goodwill/profile/adverts as the competitors of MRM multiply...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Monday, February 02, 2015 10:18 AM | Reason: Not specified
innairobi
#24 Posted : Monday, February 02, 2015 12:17:14 PM
Rank: Member

Joined: 9/2/2010
Posts: 845
Comcraft is huge. With an estimated $5B-$7B in annual group turnover, it is one of the (if not the) largest non-listed non-government businesses in Africa.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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MaichBlack
#25 Posted : Monday, February 02, 2015 12:40:53 PM
Rank: Elder

Joined: 7/22/2009
Posts: 7,837
innairobi wrote:
Comcraft is huge. With an estimated $5B-$7B in annual group turnover, it is one of the (if not the) largest non-listed non-government businesses in Africa.

I thought they want to list a subsidiary not Comcraft itself.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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jwatesh
#26 Posted : Monday, February 02, 2015 1:14:03 PM
Rank: Member

Joined: 8/19/2014
Posts: 125
I just wish Wananchi Group and Nakumatt would just list on the NSE soonest
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innairobi
#27 Posted : Monday, February 02, 2015 1:20:22 PM
Rank: Member

Joined: 9/2/2010
Posts: 845
MaichBlack wrote:
innairobi wrote:
Comcraft is huge. With an estimated $5B-$7B in annual group turnover, it is one of the (if not the) largest non-listed non-government businesses in Africa.

I thought they want to list a subsidiary not Comcraft itself.


Correct. Was making the point that its a fairly large conglomerate with no peer in Eastern Africa.
All my friends are heathens, take it slow. Wait for them to ask you who you know. Please don't make any sudden moves.
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Mart_Consult
#28 Posted : Wednesday, February 18, 2015 10:14:40 AM
Rank: Member

Joined: 11/7/2013
Posts: 127
Location: Nairobi, Kenya
murchr wrote:
mawinder wrote:
murchr wrote:
Yes EA data handlers sounds legit, the numbers will tell. As for GK, hakuna pesa

100m is not serious money to be taken to the NSE, it will be oversubscribed 50 times and allocations will be minimal!!!


I agree, some sharks should buy that equity that money is really kidogo but the business is good


Whatever happened to its intended listing? Did the (Wazuan) dragons snap it up already???

Might consider upcoming Empire instead at this rate...d'oh!
I went into the (Ferry) industry knowing the same thing I knew with all other businesses I went into- Nothing. Then I built it from there. - Sheldon Adelson (Titans at the Table- Giants of Macau)
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  | | Edit by user: Wednesday, February 18, 2015 10:16 AM | Reason: Not specified
murchr
#29 Posted : Friday, February 20, 2015 12:01:33 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
Business Daily wrote:
Nairobi Business Ventures (NBV), which operates a chain of shoe stores under the KShoe brand, plans to list on the small cap segment at the Nairobi bourse by way of introduction.

The shoe retailer is seeking regulatory approval to list on the Nairobi Securities Exchange’s (NSE) Growth Enterprise Market Segment (Gems) as a strategy to raise capital to open new outlets and venture into manufacturing of leather footwear and accessories.


"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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VituVingiSana
#30 Posted : Friday, February 20, 2015 3:01:32 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
I spoke to a gentleman who has been intimately involved in 'support' industry as relates to Listed Firms. His take is that with low(er) interest rates, many firms will NOT list because they can get the funds they need when they need the funds.

IPOs raise money but these funds may sit around doing little thus diminishing ROE whereas loans (where returns exceed interest) can increase ROE. So why list?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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