Investors wishing to buy into private equity firm TransCentury upon its debut at the Nairobi Stock Exchange (NSE) next week will do so at a price of Sh50 a share, its managers said on Tuesday.

The pricing means the firm, which began as an investment club at the turn of the millennium and grew steadily to become a multi-billion shilling business, is now worth Sh13.35-billion.

It will enter the Nairobi bourse on July 14 by way of introduction – the listing of privately owned shares at an equities market without an initial public offering (IPO).

The company said the Sh50 price is based on the company’s valuation and the closing price on June 3 — when it last traded over-the-counter.

The private equity firm that was until recently owned by an elite group of 20 businessmen has expanded its shareholders register to 430 through over-the-counter share trading. It will become only the second new listing at the Nairobi bourse this year.

Reported by Business Daily