Firm joins NSE Ibuka programme

Kitchen equipment maker Merican Ltd yesterday embarked on a process that could see it listed at the Nairobi Securities Exchange (NSE) in the next three years.

The firm was placed in the NSE’s Ibuka Programme, an accelerator board that targets to host select Kenyan companies that require specialised transaction advisory services to prepare them for capital markets financing.

Companies are also helped to structure their businesses and raise visibility both locally and internationally to gain exposure to investors.

Speaking during the admission ceremony yesterday, NSE Chief Executive Jeff Odundo congratulated Merican for successfully being hosted on the programme and assured them that they will witness enhanced corporate governance structures that will enable them to list on the appropriate board when the time is ripe.

“The NSE has placed special focus on supporting business growth through a well-structured programme aimed at preparing companies to list or access other capital options offered by the market in line with their strategic goals and priorities,” he said.

Merican Chief Executive Fred Akuno said the company would access expert consultancy and advisory services to make it compliant and fit to list in regards to size, structure and governance within the targeted period.

The company becomes the 23rd to be recruited on Ibuka. Others include Tuskys, Homeboyz Entertainment, Safaricom Investment Co-operative and Myspace Properties. Merican specialises in tailor-made steel fabrication and commercial food and beverage equipment solutions.