Kwa Nokeng eyes P1.37bn BSE listing

Friday, September 18, 2026 | 710 Views |

Evolving: Kwa Nokeng is one of the few family businesses that has graduated to a BSE-listing
PIC: KENNEDY RAMOKONE

Kwa Nokeng Oil’s two shareholders are preparing to cash in as much as P1.37 billion through the fuel distributor’s listing on the bourse, in one of the largest shareholder sell-downs seen in the local market.

Founding family custodian Clinton Van Vuuren and South African private-equity vehicle Chroma Capital 2 are selling 1.372 billion existing shares at P1 each, representing 49% of the company. The public offer opened on September 11.

Unlike a conventional capital raising exercise, Kwa Nokeng, the company, will not receive any money from the transaction to finance expansion, working capital or acquisitions. All proceeds will go to the existing shareholders' pockets, giving them a payday if the offer is fully subscribed.

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Kwa Nokeng eyes P1.37bn BSE listing

Kwa Nokeng Oil’s two shareholders are preparing to cash in as much as P1.37 billion through the fuel distributor’s listing on the bourse, in one of the largest shareholder sell-downs seen in the local market.

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