NSE mulls listing shoe retailer on main board after its $4m acquisition binge
Nairobi Business Ventures (NBV) is set to graduate to the main trading platform of the Nairobi Securities Exchange after spending $3.57 million on the acquisition of four firms in four months. PHOTO | FILE
Nairobi Business Ventures (NBV) is set to graduate to the main trading platform of the Nairobi Securities Exchange (NSE) after spending Ksh428.75 million ($3.57 million) on the acquisition of four firms in four months.
The shoe retailing firm, which is listed on the Growth and Enterprise Market Segment (GEMS), disclosed through its latest annual report that between April and August last year it acquired the following business ranging from automobile to aviation and the extractive sector: Air Direct Connect Ltd for Ksh15.54 million ($129,500), Delta Automobile Ltd (Ksh130.4 million, $1.08 million), Aviation Management Solutions Ltd (Ksh61.56 million, $513,000) and Delta Cement Ltd (Ksh221.25 million, $1.84 million).
