Cytonn Investments is planning to list on the Nairobi Securities Exchange. The investment firm is eyeing a position on the NSE’s Growth and Enterprise Market Segment (GEMS).
This was revealed through an advertisement on Friday, in which Cytonn called for applications from investment firms to provide advisory services.
“We invite proposals from eligible candidates for services required in listing of Cytonn Investments Management Plc on the Growth and Enterprise Market Segment (GEMS) of the Nairobi Securities Exchange’s (NSE) to provide Nominated Advisory, sponsoring stockbroker services and registrar services,” said Cytonn in the statement.
The segment is seen as an easy entry point for companies looking to list on the NSE. It has low requirements for companies compared to other market segments.
Companies can list on the GEMS with as little as Sh10 million share capital, turnover of up to Sh. 500,000 and less than 10 employees or turnover between Sh. 500,000 to 10 million and 10 – 50 employees.
Cytonn, however, did not reveal the actual date when it would list on the local bourse.