The listing on the NSE’s Main Fixed Income Securities Market Segment now allows investors to buy and sell the Notes through the secondary market, subject to prevailing market conditions. Investors can participate in the listed instrument from minimum bids of KES 50,000, broadening access to the Note beyond the primary offer period.
MTN Offer Oversubscribed by 232 Per cent
The listing follows a highly successful public offer that achieved an impressive subscription rate of 232.26 per cent. The offer attracted total applications worth KES 23.23 billion against the planned first tranche amount of KES 10 billion.
The strong uptake reflects growing investor confidence in I&M Bank’s financial stability, governance standards, long-term growth strategy, and market positioning within Kenya’s banking sector.
I&M Bank Says Listing Strengthens Long-Term Funding Strategy
Speaking during the NSE bell-ringing ceremony held to mark the listing, I&M Group Executive Director Sarit Shah described the development as a major milestone for both the bank and investors.
“The listing of our MTN on the Nairobi Securities Exchange marks an important step forward for I&M Bank and for investors. It moves the Notes into an active trading environment, supporting liquidity, price discovery and broader participation in Kenya’s fixed income market,” said Shah.
He added that the listing strengthens the bank’s long-term funding base and supports the lender’s iMara 3.0 strategy, which focuses on deepening leadership in Corporate and Commercial banking while expanding relevance in the Retail and SME segments through ecosystem-led solutions.
NSE Welcomes Renewed Momentum in Corporate Debt Market
Frank Mwiti, Chief Executive Officer of the Nairobi Securities Exchange, welcomed the listing, noting that it reinforces the renewed momentum in Kenya’s corporate debt market.
“The listing of I&M Bank’s MTN is a further demonstration of the growing confidence in Kenya’s capital markets and the expanding role of corporate notes in mobilising long-term capital,” Mwiti said.
He noted that the transaction follows other successful issuances by Safaricom, East African Breweries Limited and Kenya Mortgage Refinance Company, further highlighting the increasing maturity and depth of Kenya’s corporate bond market.
Corporate Issuers Driving Confidence in Capital Markets
According to the NSE, the continued return of strong corporate issuers to the market is helping rebuild investor confidence, diversify investment opportunities, and strengthen the role of Kenya’s capital markets in financing private sector growth.
The successful listing of I&M Bank’s MTN is expected to further enhance liquidity in the fixed income market while providing investors with an additional avenue for long-term investment diversification.