Credit Bank Plc, an SME-based bank in Kenya, seeks shareholder approval to list its shares on the Unquoted Securities Platform of the Nairobi Securities Exchange (NSE).
This proposal will be a key agenda item at the bank’s 39th Annual General Meeting, scheduled to be held virtually on Monday, 7th July 2025, at 10:00 AM.
Key Details from the AGM Notice
According to the AGM notice, the bank’s board is asking shareholders to approve a resolution to authorise Credit Bank to apply for the admission and listing of its ordinary shares on the NSE’s USP.
This step is contingent upon receiving all necessary regulatory approvals and complying with NSE rules and Capital Markets Authority (CMA) regulations.
Strategic Significance
Listing on the USP is expected to:
- Enhance Transparency: Improve corporate governance and transparency by subjecting the bank to NSE and CMA oversight.
- Increase Liquidity: Provide shareholders with a platform to trade their shares more easily, thus increasing share liquidity.
- Support Growth: Position the bank for future capital raising and strategic growth opportunities.
Background
The move follows a shareholders’ resolution passed at the 2023 AGM, which authorised the bank to dematerialise its shares and seek a listing on the USP. The upcoming AGM will formalise this process, pending shareholder and regulatory approvals.
What’s Next?
If approved, Credit Bank will join Kenyan firms leveraging the USP to access capital markets while maintaining flexibility compared to a main market listing.
The bank’s management and board have expressed confidence that this step will unlock value for shareholders and support the bank’s long-term strategic objectives.
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