Family Bank sets June 23 for listing on NSE

Family Bank has received Capital Market Authority approval to list on the Nairobi Securities Exchange on June 23 by way of introduction. The mid-sized lender will list 1.66 billion shares owned by 6,345 shareholders without raising additional capital. The listing will provide liquidity for existing shareholders and attract new investors. Standard Investment Bank is the lead transaction advisor, with PricewaterhouseCoopers as reporting accountants and Mboya Wangong'u & Waiyaki Advocates as legal advisors. Founder Titus Muya holds a 31.9% stake, which the bank aims to dilute.