SportPesa sets sights on Nairobi Securities Exchange in 2019
- By: Staff Writer
- October 23, 2018
- LikeUnlikeLike
- 1530 Views
ONLINE betting company SportPesa intends to list on the Nairobi Securities Exchange by the first quarter of 2019, according to local reports.
The company has appointed Nairobi-based Kestrel Capital East Africa as transaction adviser for the IPO, but is yet to confirm the move publicly.
SportPesa, which operates in Africa and the UK, generates an annual revenue of 100 billion shillings ($1 billion), and if the IPO listing were to go as expected, would become one of the 10 biggest companies on the exchange.
In August 2016, clothing retailer Deacons East Africa Plc began trading on Nairobi Securities Exchange, and SportPesa would be the first since then.
According to the Capital Markets Authority statistical bulletin, 21 companies have listed in the stock since 2006. Out of the full number, 13 companies including the State-owned power producer Kenya Electricity Generating Co, are currently trading below their reference price. The remaining seven according to Bloomberg are also trading below two shilling.
“It’s one of the few oasis’s right now in what has become quite a desert when you think about the Nairobi Securities Exchange,” Chief executive officer at Nairobi-based Rich Management Aly-Khan Satchu said.
“People had dumped the NSE and ran as far away as they could.
“The last time investors came to the market was during the Safaricom PLC and KenGen initial public offerings.
“The NSE needs something people can get into and make a profit from.”
The director of Kestrel Executive Andre DeSimone has declined to comment on the issue.
SportPesa issued a statement declaring all would be revealed when the time was right.
“SportPesa is a privately-owned company and is constantly exploring opportunities that will create value for our stakeholders,” it read.
“As and when appropriate, we will communicate with each of our stakeholders.”
Latest SportPesa, Kenyan betting news
[rm_recent_news tags=”SportPesa, Kenya” title=”” ajax=”true”]
You may also like
Join the Betting Planet team!
Are you passionate about sports betting? Sports news writers required TODAY!
Experienced preferred but not essential. (All apps considered).
View Careers at Race MediaTop Online Casinos
Latest Betting News
- Las Vegas Grand Prix 2024 betting preview & free predictions | F1
- EPL Matchweek 12 betting picks & odds | Premier League 2024-25
- La Liga betting tips, prop picks & best odds | Matchday 14
- Australia v India: Visitors drop selection hint for Perth Test
- Yan v Figueiredo betting picks & odds | UFC Fight Night preview
- Steelers @ Browns NFL Thursday preview & top picks | Week 12
- Texans @ Cowboys NFL Monday preview & free picks | Week 11
- ATP Finals 2024: De Minaur bombs out as Fritz reaches semis
- NFL Week 11 Sunday preview & betting picks | November 17, 2024
- UFC 309 main card preview & free betting picks | Nov 16, 2024
Casino Guides
- Safest online casino jurisdictions
- How to guides
- How to win at pokies
- How to play online pokies
- PaysafeCard online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- 32Red Casino Review
- All Slots Casino Review
- Boombet Casino review
- Horse racing games at casinos
- Credit card deposits at online casinos
- Films about blackjack
- Live dealer casinos
- How to play live dealer blackjack party
- Online Blackjack
- Top online casinos 2024
- Online casino deposits
- MasterCard Online Casinos
- Online Casinos Accepting POLi
- PaysafeCard online casino deposits
- Online slots
- Playing Pai Gow Poker on the Internet
- Online keno
- Online poker
- Online poker tournament structures
- Real money online roulette 2024
- Online multi-wheel roulette – what is it?
- How to play online scratch cards in 2024
- Sit & Go online poker tournaments
- Skrill e-wallet deposits at online casinos
- Visa online casino deposits
Sports Betting Guides
Casino Games
Deposits & Withdrawals
Football
Basketball
Top Country Betting sites
- Angola
- Antigua and Barbuda
- Armenia
- Australia
- Azerbaijan
- Bahamas
- Barbados
- Belize
- Brazil
- Canada
- Dominican Republic
- Germany
- Ghana
- Grenada
- India
- Indonesia
- Italy
- Kenya
- Malaysia
- Malta
- Ireland
- Netherlands
- New Zealand
- Nigeria
- Norway
- Philippines
- Singapore
- South Africa
- Turkey
- Uganda
- Ukraine
- United Kingdom
- Vietnam
- Zambia
- Zimbabwe