Real estate company Optiven seeks to raise capital through equity financing after being admitted to the Nairobi Stock Exchange (NSE) Ibuka incubation program.
The company seeks to attract new capital by selling shares to private investors, as well as its employees, under the employee stock option (ESO) plan.
The proceeds will allow the company to reduce the high debts of the financial institutions on which it depends to finance projects that span the real estate, hotel and manufacturing sectors.
“We have been financing our projects through debt in counties like Kiambu, Kajiado, Nyeri and Nanyuki. We are looking to attract global money by joining Ibuka, ”said Optiven CEO George Wachiuri.
In the next three to four years, we will announce an initial public offering, the CEO said.
After raising enough capital, the company plans to expand to countries such as Rwanda, the Democratic Republic of the Congo, and Uganda.
The Ibuka program was implemented in 2018 to enable selected Kenyan companies to accelerate their development by accessing financial advisors and consultants to help them structure their businesses, improve visibility and gain exposure among local and international investors with a view to listing on the NSE.
The initiative is also intended to help drive corporate standards, develop capabilities to access capital markets, and provide a roadmap to long-term corporate sustainability.
So far, 27 companies have joined the show, including Homeboyz Entertainment which was listed on the NSE last December.