TransCentury Group set for NSE listing

26/04/2011 - Kenya property & investment news
TransCentury Group set for NSE listing

Kenya's most known investment group and the region's biggest private equity firm, TransCentury Group, has confirmed that it will list at the Nairobi Stock Exchange (NSE) in the next six months, standardmedia.co.ke reports.Announcing its results for the 2010 financial year, TransCentury revealed it had appointed investment firm Dyer and Blair, law firm Kaplan Straton, audit firm KPMG and public relations firm Quantum Leap as the lead advisors.The firm's net profits doubled to Sh468 million compared to Sh234 million in 2009."We intend to list by introduction in the first half of the financial year," commented chief executive Gachao Kiuna.TransCentury's announcement comes after shareholders gave their backing to the move last month."Demand for electricity far outstrips supply and as a company, we know that recent investments in the two sectors will help drive power provision and increase revenue," Mr Kiuna added.The NSE listing will allow for more disclosures on the firm.