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Choose parastatals to list on NSE wisely
President William Ruto with (from left standing) governor Johnston Sakaja Nairobi Securities Exchange chairman Kiprono Kittony, Trade CS nominee Moses Kuria and Deputy President Rigathi Gachagua during the bell-ringing ceremony at the bourse on October 11, 2022. PHOTO | PSCU
As the government moves to roll out its rather ambitious plan of floating shares of 10 State corporations on the Nairobi bourse through initial public offerings (IPOs) within a year, it has to choose which ones to take to the market carefully.
Whichever parastatal it settles on should have the right performance profile to get investors excited as was witnessed in the 2005-2011 period with the listing of quality State-owned firms like KenGen and Safaricom.
