Kenya’s markets regulator is considering allowing blank-check firms to list on the local stock market in an attempt to spur initial share sales in East Africa’s biggest economy, Bloomberg reports.
The last initial public offering in Kenya was in 2015 when Stanlib Fahari I-REIT sold securities, according to data compiled by Bloomberg. The Nairobi Securities Exchange’s All Share Index has fallen 7.5% this year.
Kenya will need clear regulations on the operation of SPACs, including on how the money raised by the entities will be utilized for such IPOs to succeed, said Nairobi Securities Exchange CEO Geoffrey Odundo. Read more.
