The firm that is currently in the process of hiring listing consultants says it could float 10 million shares, representing a 10 percent stake if reception of the market is good.
By listing by way of introduction, Cytonn Investments will not be targeting to raise any money from the capital market during the listing process.
Since the introduction of the Growth Enterprise Market Segment in 2013, the NSE had projected to attract 19 firms on the GEMS by the end of this year but so far only four firms have listed.
This is despite the favorable conditions for listing under the GEMS segment that mainly targets SMEs.
Cytonn Investments is targeting to have its shares on the bourse by mid next year as part of efforts to diversify and attract more investors.
The firm has invited consultants to oversee the listing process.
Companies can list on the GEMS with as little as Sh10 million share capital, turnover of up to Sh500,000 and less than 10 employees or turnover between Sh500,000 to 10 million and 10 – 50 employees.
"With Cytonn, I think there's an OPACITY about the balance sheet which I find it a little bit tricky to make a clear call on" Alykhan Satchu pic.twitter.com/YgiuCEYXsl
— Kenyan Wall Street (@kenyanwalstreet) September 22, 2017