Nairobi, June 28 -- Family Bank will consider bringing in a strategic investor in future as it looks to diversify its shareholder base and help lower its founders' effective stake to meet the regulatory cap of 25 percent.

The bank said in an information memorandum ahead of its listing that it was coming into the market with a relatively concentrated shareholder structure, which calls for efforts to broaden and free more units into its free-float pool.

The bank went public by introduction last Tuesday, listing 1.662 billion shares at a price of Sh18 each. Its disclosures showed that 59.5 percent of its issued shares were collectively held by associates of its founder, Titus Muya, the Kenya Tea Development Authority (KTDA) and an unnamed ...