Centum Real Estate floats US$37m housing project bond

KENYA – Centum Real Estate Limited, a subsidiary of the Nairobi Securities Exchange -listed Centum Investment Company Plc, has opened a US$37 million project bond issue to finance its ongoing housing projects. The subsidiary is the holding Company for the Group’s Vipingo Development Limited in the Kenyan Coast, Pearl Marina Estates Limited in Uganda, Uhuru Heights Limited in Nairobi and Centum Development Kenya Limited. The Kenya’s Capital Markets Authority-approved paper opened on 13th November 2020 and is set to close on 2nd December 2020. Proceeds from the bond will be…

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Businessman Chris Kirubi to acquire half of Centum Plc following nod by CMA

KENYA – Businessman and industrialist Dr. Chris Kirubi is set to pay about KSh3 billion (US$28.2m) for an additional 19.9 per cent shareholding and own half of Centum Investment Company PLC, following a go-ahead by the Capital Markets Authority (CMA) to acquire more shares. Mr Kirubi, who currently holds 30% shareholding in Centum, has received an exemption from the CMA to increase his shareholding at the firm to 49.9%, without having to make a mandatory takeover offer to other shareholders. He will buy the additional shares from other shareholders selling…

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