Kenya’s First REIT IPO

About a year after laying out their plans,  the Capital Markets Authority has approved the first REIT to be issued in Kenya – and it’s from Stanlib Kenya.

Stanlib Fahari I-Reit will issue an initial public offer for investors to subscribe to units in the new REIT which is expected to raise a minimum of Kshs2.6 billion and a maximum of Kshs12.5 billion. The unrestricted IPO will be listed on the main investment market segment of the Nairobi Securities Exchange (NSE).

US$1 = Kshs 105 this week