The NSE is looking to expand it's revenue streams: by going into countries without actual functional economies, and on embargo lists across the world. Huh.

NSE signed a memorandum of understanding with the Somalia Stock Exchange Investment Corporation (SSE) to co-operate in establishing a stock market in the war ravaged country two years ago.

“NSE’s revenues are not adequately diversified to mitigate against fall in revenues in Kenya. NSE is exploring initiatives to diversify its revenues including operating exchanges in other neighbouring countries,” reads the company’s prospectus.

Also, the bourse is looking to settle its mortgage obligation with KCB from the IPO proceeds.

The regulatory filings show NSE expects to raise Sh627 million from the offer which will be used to settle its headquarters’ mortgage with KCB and upgrade its information technology.

The NSE used to be one of the few ways to get additional capital. Now, with PE firms all over the place, with significantly more cash for less statutory obligations, what does that mean for the NSE's potential?