Cytonn Investments Considering Listing on a Global Exchange
By Soko Directory Team / Published July 17, 2017 | 11:14 am
Cytonn Investments, an alternative investment management and real estate company is considering to listing on a global exchange to get cheaper funding alternatives for its real estate projects.
The company informed its investors that it looks to list on a global exchange to get cheaper funding alternatives.
“We have already gone through the process of conversion from private to public company and the next move is that we shall be looking to list on a global exchange. The aim of this will be to get to cheaper funding alternatives hence enhancing our capacity to deliver the best possible return to both our clients and our shareholders,” noted Investments Manager, Maurice Oduor. “We are also looking to start conducting regulated and we have lodged an application with The Capital Markets Authority,” added Maurice.
Edwin H. Dande, Cytonn’s Managing Partner and CEO during the firm’s Mid-Year Economic and Market Update Dinner. held on Friday said the firm had raised its profitability significantly in the first half of 2017.
“The first half of 2017 has been a fruitful one for Cytonn, with strong balance sheet growth of 21.2 percent year to date, while profitability has increased to Kshs 320.9 mn in the period ended June 2017 from Kshs 51.5 mn over the same period in 2016,” said.
Shiv Arora, Financial Controller, noted that people are Cytonn greatest asset who helps to drive the growth across four pillars which they have invested heavily in: people, products, processes and distribution.
“We continue to invest across our 4 pillars for exponential growth: people, process, product and distribution,” He says.
The results confirm that we are pursuing the right strategy according to Dande, “It takes a lot of hard work and dedication to succeed in business.”
Cytonn investments company has taken over the real estate sector in Kenya with more than Kshs. 77 billion of investments and projects under mandate, mainly in real estate.
Growth in the company is seen from 9 projects including The Ridge in Ridgeways Nairobi, RiverRun Estates in Ruiru, Taraji Heights and The Alma both in Ruaka, Situ Village along the Mbagathi River, Amara Ridge in Karen and Newtown in Nairobi.
According to the company, real estate research is not just about data collection and analysis but going further to look at the existing gaps, enhancing market knowledge and informing concept development.
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