Empire Microsystems to list on NSE first week of March

Empire Microsystems plans to make its debut on NSE in the first week of March, making it the first tech company to list on the NSE’s Growth Enterprise Market Segment (GEMS) and the fifth firm to list on the segment designed for small companies. The company decided to push forward the listing by a few more weeks from its earlier decision to do the same last month. The founder and chief executive James Mworia said the company would include audited results for 2014, information which was not included in the original information memorandum. The company has not revealed information on the amount the firm would seek since the transaction advisers were still working on a capital raising program.

The transaction advisers and co-sponsoring brokers are Equity Investment Bank and ABC Capital. The legal advisers are OMK Advocates, Njoroge Kibebe & Associates are the reporting accountants and the Central Depository and Settlement Corporation is the share registrar. Other companies expected to list this year are East African Data Handlers and Mayfox Mining, a company that explores for gold and other precious metals in Turkana County [...]

KCB gets regulator nod to operate as a REIT trustee

KCB has received a license to act as a Real Estate Investment Trust (Reit) trustee, after meeting all the legal requirements set by the Industry regulator Capital Markets Authority (CMA) to operate as a trustee. This has raised the bank’s potential to earn non-interest income. There are 6 other Reit managers and two other Reit trustees who have been issued with licenses so far. A trustees usually act as the custodians for the Reit (a sta