Nairobi, June 11 -- Family Bank has set June 23 as its listing date on the Nairobi Securities Exchange (NSE) after receiving the Capital Market Authority's (CMA) approval.

The mid-sized lender will be listing 1.66 billion shares currently owned by 6,345 shareholders by way of introduction, indicating it will not be raising additional capital during the process.

Listing by introduction will provide liquidity for existing shareholders and bring onboard other investors who would otherwise not invest in the stock which has been trading over-the-counter (OTC) market since 2006.

Standard Investment Bank has been appointed as the lead transaction advisor, with PricewaterhouseCoopers (PwC) as the reporting accountants and Mboya Wangong'u & Wai...