Technology firm Empire Microsystems to raise cash at NSE

August 11, 2015 News & Releases

nse4A technology firm has announced plans to raise capital from the public by selling shares to fund its expansion strategy.

Empire Microsystems plans to list on the Nairobi bourse’s Growth Enterprise Market Segment (GEMS), which is reserved for small and medium enterprises.

“The listing is part of our expansion strategy aimed at aligning the company with the growth in IT industry, as well as the boom in property and infrastructure space where we play a key link role between the two sectors and the end user,” Empire Microsystems chairman Julius Kipng’etich said in a statement.

The firm works with other technology firms like Huawei, Jamii Telecoms, Safaricom and Wananchi Group to provide last-mile Internet connections to customers.

In the past six years, it has connected 5,000 buildings and 50,000 customers to various Internet service providers.

Empire Microsystems says it has hired Equity Investment Bank as the lead transaction advisor and ABC Capital and Equity Investment Bank as co-sponsoring stock-brokers for the planned listing that is awaiting NSE’s approval.

The firm joins a list of others, including consumer goods and tank manufacturer Flame Tree, Mayfox and East African Data Handlers in plans to list on GEMS this year.

Source: Business Daily


As reported on KenInvest

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