Acorn Holdings has listed by introduction its Ksh4.3B green bond on the Nairobi Securities Exchange becoming the first green bond to list in East and Central Africa.
In this case, listing by introduction implies that there will be neither the issuance of new shares nor additional funds raising.
Acorn Green Bond raised KSh4.3Bn representing an 85 per cent subscription.
READ ALSO: Kenya’s First Green Bond Raises KSh4.3bn
Furthermore, the green bond intends to fund the construction of environmentally friendly and affordable accommodation for approximately 5000 university students.
Research by Strategic Business Advisory in partnership with Kenya Bankers Association estimates that in the next five to ten years, Kenya will have a demand for climate-friendly bonds amounting to Sh91 billion.