NSE Chief Executive Geoffrey Odundo who officially took office on Saturday says the exchange has received a number of applications without disclosing how many.
“We have received a number of applications and we are working on them; we will see them active in the second quarter of 2015,” Odundo said citing a robust 2015 at the Nairobi bourse.
This comes as increased activity was seen last year at the GEMS market with about three new listings that include Flame Tree Group, Kurwitu Ventures, and Atlas Development.
The listings have rejuvenated the market that had only one real estate firm, Home Afrika for a year, after its inception in January 2013.
Manufacturing firm, Flame Tree Group began trading its entire 162 million shares in November on the GEMS market at Sh8 per share he following a successful private placement with institutional investors, which raised Sh194 million, thereby achieving the shareholder criteria for the GEMS listing.
Flame Tree Group manufactures and owns mass market brands including, Roto Tanks, Jojo Plastics, Rino Tanks, Zoe, Cerro, Alana Skin, Siora, Happy’s and Buildmart.
Kurwitu was the third firm to list on the bourse listing its 102,272 shares.
London-listed Atlas Development and Support Services Limited (formerly known as Africa Oil-Fields Logistics Company), would then follow suit to list its shares on the Gems market making it the first dual listing between the London Stock Exchange and the NSE.
READ: Atlas raises Sh450mn through Kenya cross listing
The firm offered 10 percent of its 393.9 million total issued shares for cross-listing on the NSE with price per share set at Sh11.50 with a minimum subscription of Sh1 million per investor.
The firm successfully raised Sh450 million (US$5 million) through a private placement to investors after issuing 39 million shares offered solely in Kenya.
“We are also going to see new products launched in the derivatives market and the Real Estate Investment Trusts (REITS) market in the second quarter of 2015, the systems are already running, we are just finalising on the products,” Odundo added.