The Capital Markets Authority (CMA) has approved the country’s debut asset-backed security (ABS) seeking to raise up to Sh47 billion from investors towards the construction of a government-owned multibillion-shilling sporting complex along Nairobi’s Ngong Road.
Sources told the Business Daily that the security, which has been arranged through a special purpose vehicle (SPV) dubbed Linzi Finco Trust, will be issued in tranches, with the proceeds expected to be invested in the construction of the Talanta Sports City.
