× Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Ureport Fact Check The Standard Insider Kenya @ 50 Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

Leasing firm plans public share offer

By Moses Omusolo | December 8th 2018 at 00:00:00 GMT +0300

A section of Nairobi Securities Exchange (NSE) trading (David Njaaga, Standard).

A local leasing firm targets to raise Sh1 billion expansion capital through an initial public offering next year.

Vehicle and Equipment Leasing Limited (Vaell) plans to offer its shares to the public through the Nairobi Securities Exchange in February.

“The listing will give the (company) greater managerial autonomy to advance its own growth strategy,’ said Vaell in a statement, adding that it has appointed a consultant to guide the process.

It said the amount of securities to be offered will be determined by market conditions and other factors at the time of the offer.

“The lessor will communicate the percentage of shares they will offer by end of January 2019 after the board’s approval,” the statement added.

Read More

According to the company’s financial results for this year, net profit rose 20 per cent on a turnover of Sh1.4 billion compared to 2017.   

More stories