Trans Century Limited (TCL) will be listed at the Nairobi Stock Exchange (NSE) next week on Thursday following approval from the Capital Markets Authority of Kenya (CMA).

Speaking during a press briefing at a Nairobi hotel Tuesday, the Group Chief Executive Officer, Dr. Gachau Kiuna said that the company will be listing up to shs 267 billion Issued Ordinary Shares of shs 0.50 each of TCL and a further shs 150 billion Unissued Ordinary Shares of shs 0.50 each reserved for a convertible bond programme.

He added that the listing was part of a long term strategy to ensure that the company diversifies and grows the investors’ base, in line with the strategic focus on power infrastructure, transport infrastructure and specialized engineering.

“These sectors are capital intensive and a key driver of success with the ability to develop attractive sources of funding and technical partnerships,” said the CEO.

He noted that, following consultation between Dyer and Blair and the sponsoring brokers and with the approval of the CMA, the listing price has been set at shs 0.50 per share which values the company at shs 13.4 billion.  

Speaking at the same function was the Group Chairman, Zephaniah Mbugua who said that from the perspective of the board and the founding shareholders, the listing is a key milestone in a journey to build a Pan African Corporation that understands and takes advantage of the exciting economic opportunities that our continent has to offer.

“We are pleased to invite a broad shareholder base to join this journey and are excited about the future growth prospects of the company, as the market fundamentals that drove us into infrastructure investments remain strong and in many cases appear even more attractive with the growing interest in African continent,” he said.

He added that as a sign of continuing commitment to the company, the ten largest shareholders and board have committed to holding at least 50 percent of their respective shareholding for a period of at least two years from the listing date.

TCL is a Kenyan headquartered infrastructure company with investments in seven countries across East, Central and Southern Africa with revenue of shs 6.9 billion and operation profit of shs 974 million as of 2010.

Its focus areas are the Power Infrastructure, Transport Infrastructure, and Specialized Engineering sectors with additional operations in the consumer sector as well as associated holdings.