The Star (Nairobi)

Kenya: CMA Approves Centum Bond Listing At NSE

The Capital Markets Authority has approved to Centum Investment's plan to list a Sh194.4 million bond issued through private placement in September 2012 by way of introduction.

The fixed rate short term bond was issued through the fixed income securities investment market segment of the Nairobi Securities Exchange.

The investment firm has been allowed to list list an additional Sh805.6 million. The capital is expected to boost Centum's investment plans as it intends to venture into real estate business.

The company had issued a profits warning early last month, citing possible revenue hit by court by action involving four bottling companies it had invested Sh5 billion in.

Its shares in the four Coca-Cola bottling companies in Kenya represented just over a quarter of its total assets, contributing 20 per cent of its profit and 2 per cent of the cash flow at the end of its last financial year in March.

Kenya Revenue Authority was claiming Sh5 billion in excise duty from the four firms. Firms are required to issue a warning if earnings are likely to fall by more than a quarter in a full financial year.

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.