Stock brokers at the Nairobi Securities Exchange. FILE PHOTO | NMG
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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