Fashion retailer Deacons East Africa lists 123.6 million shares on Nairobi bourse

Deacons East Africa has become the first fashion retailer to list on the Nairobi Securities Exchange. The firm has outlets in Kenya, Rwanda and Uganda. It’s listed 123.6 million shares, priced at 15 shillings each, on the bourse’s alternative segment. Deacons shares have been trading in the over-the-counter market for the past six years. Deacons brands include Truworths, Angelo, Bossini, Mr Price, Adidas, 4U2, Babyshop, Life Fitness and Mr Price Home. Products sold in those outlets include clothes, footwear, accessories, sports and fitness equipment, as well as kitchenware. Funds raised at the bourse will mostly go towards Deacons’ regional expansion. The firm already manages 38 stores across East Africa, and plans to increase that number to 60 by 2020.

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