The Star (Nairobi)

23 November 2012

Kenya: SMEP May Announce Initial Public Offer Soon

Church-centred deposit taking micro-finance SMEP is eyeing to have its shares publicly traded "in the not-so-distant future".

Its chairman Gabriel Kivuti has said the DTM is monitoring a number of factors in the business environment, including the general election, after which it will seek approval for Initial Public Offering.

"One of the reasons for increasing our liquidity is because we hope to make an IPO soon," said Kivuti, without giving a specific time-line for the listing.

SMEP DTM is seeking to raise Sh1.6 billion in an ongoing share offer of more than 145 million new ordinary shares which kicked off on October 16 and closes on November 30. SMEP also envisions becoming "the first Christian Bank" fully licensed to conduct business as a commercial bank in the future.

Ads by Google

Copyright © 2012 The Star. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.