National Oil eyes Sh100bn in London bourse listing cash call

What you need to know:

  • The dual-listing targets to raise $1 billion (Sh100.62 billion under prevailing rates) through an IPO.
  • Nock will use the proceeds to buy back up to 35 per cent stake in two oil blocks in Lokichar Basin in Turkana.  
  • The dual-listing will be facilitated by an earlier memorandum of understanding between LSE Group and NSE.

President Uhuru Kenyatta yesterday told UK investors at the London Stock Exchange (LSE) that National Oil Corporation of Kenya (Nock) will next year list on Nairobi and London bourses.

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