Private equity (PE) firms prefer selling stakes to competitors and strategic investors rather than through the Nairobi bourse to reap maximum returns and save on time and costs in closing deals.
Recent surveys show that none of PE funds in East Africa plan to offload their stakes via an initial public offering (IPO), dealing a blow to the long-held desire by the Capital Markets Authority (CMA) to see the funds exiting through the Nairobi Securities Exchange (NSE).
