Kenya: Service company Atlas lists in Nairobi

AIM-listed services company Atlas Development & Support Services has raised $5m though a private placement to Kenyan investors in connection with a cross listing on the Growth Enterprise Market Segment of the Nairobi Securities Exchange. The placing was completed through the issuing of 39m new shares at KES11.50/share and the funds will be used to provide additional expansion capital for the company in Kenya and the wider East African region. The company, founded by serial entrepreneurs Philippe Edmonds and Andrew Groves and formerly called Africa Oilfield Logistics, listed on AIM in June 2013.