Shri Krishna Overseas Limited (SKOL), a packaging materials manufacturer, is set to list on the Nairobi Securities Exchange (NSE), ending a five-year drought of new listings. SKOL received regulatory approvals from both the Capital Markets Authority and the NSE.

Listing Details

- **Shares:** 50.5 million shares - **Price:** 5 shillings and 90 cents each - **Valuation:** 298 million shillings

Listing Method

SKOL is joining the "Growth Enterprise Market Segment" (GEMS) through listing by introduction, a method that does not involve selling shares to the public and is considered cheaper and less complex.

Historical Context

This marks the 14th listing by introduction on the NSE, with the last one being Homeboyz Entertainment in 2020. The NSE has experienced a slowdown, with only two IPOs since 2011, attributed to factors like prolonged bear runs, dormant retail investors, and easier private equity funding.

Future Outlook

The NSE aims to list 40 more firms and attract 9 million new retail investors by 2029.