Packaging Firm SKL Inches Closer to Listing on NSE

Family businesses have been encouraged to list on the Nairobi Securities Exchange (NSE) to ensure long-term sustainability and to preserve their founders’ legacy. NSE CEO Frank Mwiti stated that listing on the NSE enables businesses to outlive their founders by introducing new leadership, ownership, and supporting organizational structures.

Mr Mwiti added that listing on the NSE can potentially open the door for family businesses to get more options to raise much-needed capital. “There are other instruments that family businesses can use such as commercial papers and corporate bonds, which can act as alternatives to bank loans,” said Mr Mwiti at Shri Krishana Overseas Ltd (SKL) networking dinner.

He added that listing also has the advantage of seeing the owners  unlock the value of the shareholding especially when the market is on an upward trend. SKL, a packaging solutions provider, announced its intention to list by introduction on the NSE in July 2024.

The packing company plans to list on the NSE’s Small and Medium Enterprises (SME) Market Segment pending the successful submission of its application to the NSE and the Capital Markets Authority (CMA). If the CMA grants approval, SKL will become the first packaging solutions company to be listed on the NSE and the exchange’s first new listing since 2020.

SKL Managing Director and Founder Mr Sonvir Singh said the company is planning to expand its capacity to meet the growing demand for sustainable packaging from the floriculture, horticulture, and pharmaceutical companies. “Listing on the NSE’s SME Market Segment is a strategic decision that will provide Shri Krishana Overseas with access to the capital markets, enabling us to raise funds and accelerate our expansion plans in the near future,” said Mr Sonvir.

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