Nairobi Securities Exchange (NSE) IPO raises $7M for expansion

The Nairobi Securities Exchange (NSE) has raised 627 million Kenyan shillings ($7.1 million) for expansion in an oversubscribed initial public offering as part of plans to demutualise the bourse.

Demutualisation is seen as a way of curbing the influence stockbrokers have over the exchange’s management, which has been criticised for reacting slowly to breaches in regulations

Read more: Kenya bourse IPO raises $7 mln for expansion | Reuters.