When the board of directors of Cytonn Investments Management Limited announced the conversion of the privately owned firm to a public limited company on Monday, many Kenyans were left wondering how that would work out without any reference to an impending initial public offering (IPO) or going to the bourse by introduction, the two known paths private firms have been using to go public.
But the investment firm that was founded in 2014 with offices in Nairobi and DC Metro in the US was on track to using a new provision in Kenya’s Companies Act to chart a new path for its owners.
