Nairobi, June 15 -- Family Bank Limited is set to list at a valuation of Sh29.9 billion or Sh18 per share, making it the eleventh largest bank by market capitalisation on the Nairobi bourse.

Disclosures by the lender place the listing/introduction price per share at Sh18 ahead of its addition to the Nairobi Securities Exchange (NSE) main investment market segment next Tuesday.

The listing share price follows an independent valuation of the company which closely tracks the stock's trading on the over-the-counter (OTC) market, where the bank has traded since 2006.

The bank will list 1,662,654,760 shares on the NSE main investment market segment (MIMS) on June 23.

The listing price presents investors with the opportunity to lock in a div...