HF Group PLC, a multi-dimensional financial services provider, is seeking a strategic investor. The group has invited suitors to place their bids.
“HF Group Plc has commenced the process of inviting strategic investors to acquire a stake in the Company as disclosed in the published 2020 financial statements,” HF Group chief executive Robert Kibaara said Thursday in a regulatory filing to shareholders.
“The aim of the proposed transaction is to strengthen the Group’s capital in line with the Group’s current strategic direction. This process is ongoing and as at the date of this announcement no formal transaction has been concretized.”
In March, Insurance group Britam Holdings said it planned to offload part of its 48.2 per cent stake in the mortgage financier to one of the lenders in the country.
The Group is listed on the Nairobi Securities Exchange (NSE) and has four operating subsidiaries which include HFC Limited, HF Development and Investment Limited, First Permanent (East Africa) Limited, HF Insurance Agency Limited and HF Foundation Limited.