Kenya’s Capital Markets Authority (CMA) has approved the demutualisation and self-listing of the Nairobi Securities Exchange (NSE), signalling that the bourse could list in the coming weeks.

“The Board of the Authority approved the demutualisation of the Nairobi Securities Exchange in line with the Demutualisation Regulations at its board meeting on June 26, 2014,” local news platform, Business Daily quoted Paul Muthaura, CMA’s acting chief executive as saying.

With the CMA approval coming at this time of the year, NSE’s plan to list in the current financial year is set to become a reality.

In a letter to the Kenya Association of Stockbrokers and Investment Banks (Kasib), NSE chief executive, Peter Mwangi disclosed that the transaction advisors and management of the NSE were finalizing modalities for the self-listing intended for launch in July, asking Kasib members to take note.

Kasib chief executive, Willie Njoroge noted that the listing of NSE will help stockbrokers and investment bankers convince other companies to list.

The 22 founder members of the NSE, which control 90 percent of shareholding, will lose part of their shares to the Initial Public Offering (IPO), with a reduction of 40 percent expected within three years after the bourse goes public.