Bluenile Rolling Mills has been admitted for stock market incubation at it prepares to list its shares on the Nairobi bourse.
The incubation dubbed Ibuka programme takes six months and is intended to prepare the company for listing.
Thika-based steel products maker, Bluenile Rolling Mills, has been admitted for stock market incubation at it prepares to list its shares on the Nairobi bourse.
The firm, which employs 800 people and trades under the “Kifaru” brand expressed interest in listing on the bourse, saying it needed funds for expansion as well as help its owners to realise the true value of their shares.
The incubation dubbed Ibuka programme takes six months and is intended to prepare the company for listing.
Bluenile Rolling Mills Limited acting chairman Kotni Rao said they were looking forward to growing their revenues from the current Sh4.5 billion to Sh10 billion by 2022.
“This can only be achieved if we access new funds that could see us achieve an annual revenue of Sh25 billion by 2027 when we celebrate out 20th anniversary,” he said.
The family-owned firm is the fourth company to be enrolled into the programme aimed at helping local firms to open up ownership to the public as well as tap new funds to power their expansion of their facilities and sell across the region.
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