Kenyan bourse to trade unquoted securities from May 12

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An electronic board showing the closing numbers of Nikkei Stock Average in Tokyo, Japan, on March 6, 2020. Tokyo stocks closed sharply lower Friday as investor sentiment was risk-averse from the outset following a global equities rout triggered by an escalation in concern over the spread of the coronavirus. (Xinhua/Du Xiaoyi)
An electronic board showing the closing numbers of Nikkei Stock Average in Tokyo, Japan, on March 6, 2020. Tokyo stocks closed sharply lower Friday as investor sentiment was risk-averse from the outset following a global equities rout triggered by an escalation in concern over the spread of the coronavirus. (Xinhua/Du Xiaoyi)

Trading of unquoted securities at the Nairobi Securities Exchange (NSE) will start on May 12, a bourse official said Wednesday.

Bansri Pattni, business development and corporate finance manager at NSE, said one issuer has already enlisted, and will start trading at the segment.

“We have Acorn Holdings but we are engaging many other potential issuers who will come on board,” she said during a webinar on the platform.

The start of the trading would come nearly five months after the launch of the Unquoted Securities Platform (USP) in December 2020.

USP offers issuers an opportunity to access the capital markets for long-term funding through private placements while enjoying flexibility in listing requirements and obligations.

“This platform also enables companies that are not quoted and have a register of shareholders to enjoy price discovery and increase liquidity of their shares as well as raise funds,” said Pattni. Enditem

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