Nairobi Securities Exchange chief executive Geoffrey Odundo has sent the clearest signal yet, that leading retailer Tusker Mattresses may be considering a special listing at the bourse soon.
Speaking at the Tuskys Partners’ Dinner, Mr Odundo described the retailer as a formidable organisation that is ripe for future listing at the NSE in coming months.
The retailer operates Tuskys Supermarkets and Mavazi Lifestyle clothing stores in Kenya and Uganda.
According to Mr Odundo, it is currently under a listing incubation programme with NSE and stands a good chance at unlocking value and raising development funds through a listing programme.
Such a programme, he explained, could focus on an Employee Share Ownership Programme (ESOP) scheme for the benefit of Tuskys’ staffers, suppliers and related stakeholders.
“We are starting on a journey and we are encouraging staff and suppliers to buy into the scheme when it is set up,” Odundo said.
During the event, Tuskys’ group chief executive Dan Githua confirmed the retailer is looking forward to doing great things in 2019.
“At Tuskys, our DNA is founded on integrity and the Management team is spearheading efforts to inspire confidence and unlock value for all stakeholders,” he added.