Shareholders Friday gave their consent to the planned public listing of the Nairobi Securities Exchange (NSE) as the sale of the bourse’s shares to the public nears.

The shareholders gave the green light at the annual general meeting in a planned self-listing that will see a large chunk of Kenyans own part of the exchange.

Eddy Njoroge, Chairman of the NSE said the IPO would make it possible for Kenyans to not only own a piece of the exchange, but also “share in the future financial success of this company which has a very rich national heritage”.

About 375,000 shares would be in the offer at the initial public offering set for June. Although no price has been set for the shares, the bourse has indicated that the shares would be sold at a premium, which according to Kenyan TV KTN implies that it would sell above Sh4 per share.

The latest release from the NSE will be a great relief for the demutualization process which has been on the exchange’s plans for close to 10 years now. This will see separation of management from ownership, a development that would pave the way for the public listing of the bourse.

The move is expected to enhance effectiveness, accountability and transparency in the exchange which both local and foreign investors entrust with billions of Shillings in deals.

According to Njoroge, the demutualisation will also catalyse the exchange’s support for the attainment of Kenya’s Vision 2030, as it seeks to position Kenya’s capital markets “as the hub for East and Central Africa.”

NSE will be listed on the bourse’s Main Investment Market Segment (MIMS) should its self-listing go on as planned.