Tusker Mattresses, one of Kenya’s leading retailers, is considering a special listing on the Nairobi Securities Exchange (NSE).
NSE Chief Executive Officer, Mr. Jeff Odundo has described Tusker Mattresses as a formidable organization that is ripe for future listing at the NSE in coming months.
He was speaking, when he addressed Tusker Mattresses staff and suppliers at partners’ dinner in Kenya’s capital city of Nairobi.
The retailer, which operates Tuskys Supermarkets and Mavazi Lifestyle clothing stores in Kenya and Uganda, is currently under a listing incubation programme with the NSE. Odundo said the firm stands a good chance at unlocking value and raising development funds through a listing programme.
He explained that such a programme could focus on an Employee Share Ownership Programme (ESOP) scheme for the benefit of Tusker Mattresses Staffers, suppliers and related stakeholders.
“We are starting on a journey and we are encouraging staff and suppliers to buy into the scheme when it is set up,” Odundo said.
He confirmed that the NSE has been enjoying a more than eight month working relationship with the Tusker Mattresses team led by Group CEO, Dan Githua as part of preparatory steps towards a potential listing.
“We called into Tuskys a few months ago and we feel at home that this firm is almost ready to list at the NSE. As Tuskys employees, it is important to build a very good company that can help you unlock value when you come to the market,” Odundo added.
During the event, Githua confirmed that the retailer is looking forward to doing great things in 2019.
He said the firm is pursuing a corporate strategy guided by a clear vision to be the region’s leading retailer.