KShoe, a leather products retail chain owned by Nairobi Business Ventures is set to list on NSE by introduction on Tuesday.
The new stock will list 23.6 million shares in the Growth Enterprise Segment (GEMS) at Sh. 5 per share, giving it a market capitalization of Sh. 118 million.
The manufacturer will be seeking additional capital for expansion into the footwear manufacturing segment.
“We will expand its presence first through retail expansions and invest in backward integration into manufacturing,” said the firm’s chairman, Alfred Kathusi.
KShoe recently raised Sh. 28 million from 26 shareholders in a private placement. It has six outlets in and around Nairobi.
Nonetheless, it is expected that investors might be wary of the new kid on the GEMS category due to the low performance witnessed from stocks listed under GEMS. This category in the NSE has lesser stringent rules.
