KCB to cross-list
May 11, 2008
KENYA Commercial Bank (KCB) announced on Friday it would effective this year start cross-listing its shares in other major East African stock markets.<br>
By Reuben Olita in Nairobi
KENYA Commercial Bank (KCB) announced on Friday it would effective this year start cross-listing its shares in other major East African stock markets.
The bank’s shareholders mandated the directors to initiate the cross-listing in Uganda and Tanzania’s stock markets.
Martin Oduor-Otieno, the managing director, said the initiative was aimed at creating greater awareness as an impetus to regional expansion whilst spreading the ownership.
“Subject to the approval of the securities authorities in the regional countries, we will then initiate cross-listing in Uganda and Tanzania,†Oduor Otieno, said.
KCB is rolling out strategic expansion programmes of its branch network across the region.
The upcoming expansion is set to capture the Rwanda and Burundi markets. “We are targeting to become a regional financial giant,†Oduor-Otieno boasted.
KENYA Commercial Bank (KCB) announced on Friday it would effective this year start cross-listing its shares in other major East African stock markets.
The bank’s shareholders mandated the directors to initiate the cross-listing in Uganda and Tanzania’s stock markets.
Martin Oduor-Otieno, the managing director, said the initiative was aimed at creating greater awareness as an impetus to regional expansion whilst spreading the ownership.
“Subject to the approval of the securities authorities in the regional countries, we will then initiate cross-listing in Uganda and Tanzania,†Oduor Otieno, said.
KCB is rolling out strategic expansion programmes of its branch network across the region.
The upcoming expansion is set to capture the Rwanda and Burundi markets. “We are targeting to become a regional financial giant,†Oduor-Otieno boasted.