Optiven just joined the Nairobi Securities Exchange’s Ibuka Programme and is all set to go through three crucial Phases that will culminate into doing an Initial Public Offer (IPO). Here are Frequently Asked Questions on this new development:
1. What does the Ibuka Accelerator Programme mean?
The Ibuka Accelerator Programme is a platform within NSE that helps, mentor and advise SMEs that start the journey towards listing. It’s is a hand holding board that makes it easier for companies to join Nairobi Securities Exchange. Optiven just joined this programme.
2. What are the three (3) Phases that Optiven will go through as it offers its shares?
During this phase the Ibuka team shall evaluate Optiven’s worth and Value. Then Optiven Directors will cede some percentage of their shares to offer to staff through Employment Shares Ownership Plan (ESOP). On timeline this may take 6 to 8 months.
The private placement will follow. This is where Optiven pre-selects institutions that will acquire a stake to raise equity. The process is guided by the Ibuka team of experts. This may take up to 3 years and during this time the company is still private.
Phase III – Initial Public Offering (IPO)
Optiven will be listed at the bourse, share values determined at the time of listing and our valued customers and other interested stakeholders can purchase the shares. This will happen in 1 about 3 to 4 years from May 2021.
3. Is Optiven joining Ibuka as Real estate or as a Group?
Optiven share offer is for real estate plus other strategic business units that includes:
i. Optiven Homes – (https://www.optivenhomes.co.ke)
ii. Optiven Construction – (https://www.optivenconstruction.co.ke)
iii. Optiven Insurance Company
iv. GMC Place – (https://www.funplace.co.ke)
v. Panarottis (Magic Peak Ltd) – https://www.facebook.com/PanarottisKenya
vi. Eagle Peak Spur – https://www.facebook.com/SpurAtTheHubKaren
vii. Optiven Foundation – (www.optivenfoundation.org)
4. Can one buy the Optiven shares immediately?
No. (See the three Phases above in No.2)
5. What is the price of Optiven shares?
Price will be determined after rigorous exercise by the NSE – Ibuka Programme. Through the supervision of Ibuka-NSE experts, they will value the entire of Optiven and its strategic business units (All assets & Brand value). It is after this process that the share value will be determined by the professionals.
6. How can one buy Optiven shares?
This will be advised after the shares and company valuation has been completed and as per the above explained 3-phase process.
7. When shall the IPO be rolled out?
We shall keep sharing the information as we go through the NSE-Ibuka Programme.
8. I am a friend of Optiven, can I be put on the staff list?
No. We want to be honest as honesty is an integral part of our success. We are following all the guidelines given by the regulator under Ibuka-NSE ethos, and this is one of them.
9. Do the former Optiven staff qualify into the Staff Ownership Plan (ESOP)?
No. They will only qualify under phase 3 of shares offering.
10. Do the new Optiven staff quality for Phase 1?
It shall be advised as the evaluation and Ibuka team gives guidelines.
11. Who determines the share value?
This is done through a valuation that is part of Ibuka-NSE guidance.
12. Is Optiven a Sacco? Why talk of shares and not stocks?
Optiven is not a Sacco but a Limited Company. When it gets listed at the NSE as per the aforementioned phases, we shall be talking of stocks that can trade at the Nairobi Securities Exchange.
13. What is Optiven’s Vision?
To be the champions of Social Economic Transformation
14. What is Optiven’s Mission?
Optiven’s Mission is to create an environment that positively transforms our staff, customers and other stakeholders through offering state of the art products and services.
15. What are Optiven’s Goals?
1. To create 30,000 jobs by the year 2030
2. To develop 300,000 homes by the year 2030
3. To make the world a better place.
4. To maximize shareholders wealth.
16. How long has Optiven been in business?
Optiven has been in business for over 20 years.
17. Is Optiven changing the name or it’s just the logo?
Optiven is only making its logo simple as a symbol of the brand being Bold, Agile and innovative brand. The name and color remains
18. Who are the Founders and Shareholders of Optiven?
The founders of Optiven are: George Wachiuri, Charles Muraguri & Mary Wacuka. Optiven has been a family business for the last 20 years, run in a professional manner. However, this is about to change to be Optiven PLC after the listing on the NSE. This is part of Optiven’s strategy and focus to make the company outlive its founders, to allow
the company to grow bigger than its founders and to make Optiven live more than 12 generations going forward.
19. How educated is the CEO, Mr. George Wachiuri?
George Wachiuri has Masters in Business administration, B.Com marketing, he is a CPA (K), CIPs, Author of three books (Soaring like an Eagle, how to start small and build an Empire, The Optiven way. He has mentored over 500 SMEs in East Africa.
20. Is George Wachiuri leaving Optiven after the company goes public?
George Wachiuri plans to lead the company for about 10-15years with a Focus to soar the organization to join the top 10 biggest companies in Africa.
21. How old is George Wachiuri?
He is mature enough to lead Optiven to great heights and grow shareholders wealth.
22. Is George Wachiuri School of Mentorship a profit generating enterprise? Is it part of the deal?
No. The school of Mentorship is George Wachiuri’s way of giving back to the society. The same with other Mentorship programs he has done in the past such as ‘Good to Great, Power Talks program and Coffee with George Wachiuri including the ones that will come in the future.
23. Why is Optiven targeting Africa with its growth plan?
There are massive opportunities in Africa to exploit and Optiven believes it has what it takes to do this.
24. What benefits can Optiven clients (Both Local & Diaspora) gain?
Optiven clients can participate in the IPO and those with big capacity to acquire Equity can apply for the same when time comes during private placement.