Abdirahman Abdillahi and Mohammed Hassan plan to cut their combined stake in Kurwitu Ventures Ltd. to 70% from the current 78% within six months of its listing on the Growth Enterprises Markets Segment (Gems) of the Nairobi Securities Exchange (NSE). Abdirahman Abdillahi and Mohammed Hassan plan to cut their combined stake in order to increase the number of shares circulating. “Technically, the free float is only 22%.

The two largest shareholders intend to reduce their holding by at least eight per cent in the next six months to increase the free float,” said Kurwitu in its listing statement.