Nairobi Business Ventures which owns the K Shoe brand Tuesday listed on the Nairobi Securities Exchange’s Growth Enterprise Market Segment (Gems).
K Shoe listed by introduction offering 23.6 million shares at a price of Sh.5 er share which gave the counter a market value of Sh118 million.
The firm joined Home Afrika, Kurwitu Ventures, Flame Tree Group and Atlas Development which are listed on the GEMS category. The category which is designed for small ad medium enterprises has failed to attract a high number of stocks despite having less stringent listing rules.
In the same vein, apart from Flame Tree, stocks listed i the category have tended to perform poorly, with Kurwitu Ventures being the local market’s most illiquid counter. It remains to be seen how K Shoe will perform.