It is possible that public markets are in a secular downward trend – read zero new listings and more de-listings to come.
Initial Public Offers (IPO) have taken a back seat since peaking in the late 2000’s. It is, however, not unique to the Nairobi Securities Exchange (NSE). Indeed, stock markets the world over, at first designed to fill the capital-raising needs of the 19th century, now appear out of step with capital formation in the 21st century.
