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Equity Bank enters the stock exchange market

by editor2
August 8th, 2006

Equity Bank today became the first Micro Finance institution to trade at the Nairobi Stock Exchange.

The bank’s shares took off at a lofty 182 Shillings per share from the 70 Shillings proposed price per share mark that saw it get into the bourse by way of introduction.

Equity entry into NSE raises the number of companies at the Finance And Investment segment to 12 and that of the total number of listed companies at the bourse to 52.

At the official ceremony to mark the trading, the NSE Chairman Mr Jimnah Mbaruh also noted that the new entry has swollen the NSE market capitalization from 7 billion Shillings to close to 9 billion Shillings.

Another company, the Scangroup that opted to get into the NSE through an Initial Public Offer (IPO) is also set for listing and to commence trading at the NSE on August 29, making business at the NSE even more hectic. Another company, Eveready Batteries Kenya Limited and the soon to be privatized Telkom Kenya are also expected to get into the stock market soon.

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