Listing at the CMA – the Experience
The forum gave interested companies a realistic and practical feel of the listing process. Interested firms had an opportunity to participate in a stage by stage, one on one, structured engagement with CMA, NSE, Nominated Advisors (NOMADS), and Transaction advisors, Lawyers, Auditors, Stockbrokers and Investment Banks, among other service providers.
The Authority in partnership with industry players held a “Business Incubator and Accelerator on the Listing Experience” in March 2017. This was targeted to present interested companies, with potential to list at the Nairobi Securities Exchange, with an opportunity to participate in a stage by stage, one on one, engagement with relevant intermediaries in the listing process to assist in demystifying the requirements and processes of going public and to allow successful candidates to chart their own listing roadmap.
Interested firms had an opportunity to participate in structured engagements with the CMA, NSE, Nominated advisors (NOMADS), Transaction advisors, Lawyers, Auditors, Stockbrokers and Investment Banks, among other service providers (one on one to allow for confidential B2B discussions) to discuss their readiness for listing. Areas of engagement on the listing process included: identifying business needs/strategy issues, developing business plans, considerations for the appointment advisors & other agents, mandating negotiation, required documentation, regulatory and other approvals, the process of issue placement and allotment, and fees and timelines. This incubator and accelerator experience is intended to give interested companies as realistic and a practical feel of the listing process as possible.
The Authority also invited a number of business incubators (organizations designed to accelerate the growth and success of entrepreneurial companies, through an array of business support resources and services that could include physical space, capital, coaching, common services, networking opportunities and training) to engage with firms that are not ready to list but have promising prospects that could be nurtured through incubation. This is geared to help develop a pipeline of successful businesses to be listed in the future.