The newly appointed CEO of Copy Cat Group has said that he will propose to the Company’s board in an effort to convince them to consider listing at the Nairobi Securities Exchange as it will help in proper price discovery and also give Kenyans a chance to share the success of the company.
“We will consider listing because it comes with a lot of gains for the company and staff.” Said one of Copy Cat’s Directors during the company’s celebration to mark 30 years since it began operations.
In attendance was ICT Cabinet Secretary Mr Joe Mucheru who said in his keynote address,“Listing will also allow Copy Cat to discover its worth and its owners to unlock the value of their investment,”
Copy Cat Group is Kenyan IT Solutions firm founded in 1985 and has since expanded across the East African region i.e Ethiopia, Uganda, Rwanda and Tanzania.
Other IT Firms that have shown interest in listing include, East African Data Handlers and Empire Microsystems both interested in listing on the GEMS Market segment of the NSE.
Fortunately the NSE & other regulators have made the listing rules less stringent in an effort to attract more firms to the bourse. Today listing at the NSE can be done at a fraction of the cost against that to the main board and with all the benefits.
Companies should also understand that listing makes sense as it brings in better governance, transparency and accountability from the management. Listing also makes sense as money trapped in such companies can then be freed up and used to further invest and expand to other markets.