Tuskys Seek IPO
Tuskys Supermarket will go public in the next four to five years. Dan Githua, Tuskys Supermarket’s Chief Executive Officer, said “that the chain plans to sell shares on the Nairobi Securities Exchange through an initial public offering (IPO) in 2019 or 2020.”
Tuskys has about 55 branches in Kenya and 7 in Uganda.
Tuskys has plans to enter Ethiopia, Tanzania, and DRC in the next 5 years.
Tuskys is partnering with Vivo Energy to come up with new convenience shopping stores known as Tuskys Express. According to Mr Githua, this is a way of enabling customers to shop quickly and conveniently.
Analysis
This is a positive move by Tuskys going forward, and will provide Kenyans an avenue in being part of the booming retail business once listed.
