The Capital Markets Authority has signed up 70 firms to participate in a listing forum at the end of this month, as it looks to end the recent IPO drought on the NSE.
The forum, dubbed the 'Business Incubator and Accelerator on the Listing Experience' will be held on March 30 and 31, with the regulator saying it is meant to give companies a realistic and practical feel of the listing process.
It is mainly targeted at smaller firms that can list on the Growth and Enterprise market Segment (Gems) of the NSE.
"The response from potential issuers is a demonstration of the level of interest in the capital markets as a source of long term funding to support growth and business expansion plans for companies in Kenya and beyond'," said CMA chief executive officer Paul Muthaura in a statement on Sunday.
The CMA master plan targets to increase listings on the Gems by three or four companies annually, which should translate to about 40 companies by 2023. However, since Gems was set up in 2013, only five firms have listed on it.
Participating firms in the forum will engage with the NSE, nominated advisors (Nomads), transaction advisors, lawyers, auditors, stockbrokers and investment banks, among other service providers.