Swiss Re Owns 15.79% of Britam Holdings after Jimnah Mbaru Sells 50 million Shares

Jimnah Mbaru Sells 50 million Shares

Dyer & Blair chairman Jimnah Mbaru I Courtesy

Swiss Re, one of the worlds leading providers of insurance products and listed on the main segment of the SIX Swiss Exchange, now owns 15.79% of Britam Holdings PLC for 50 million shares through a private transaction.

This makes it the third-largest investor after Equity Holdings and Private Equity firm AfricInvest.

“These shares were acquired from Jimnah Mbaru (the ‘Transferor’) through a private transaction under Regulation 57(d) of Capital Markets (Licensing Requirements) (General Regulations, 2002,” said the Capital Markets in a Notice.

Upon completion of the transaction, Swiss Re will hold fifteen decimal seventy-nine percent of the total Issued ordinary shares of Britam Holdings PLC.

The shares have a market value of KSh 425 million as per the closing price at the Nairobi Securities Exchange on 17th April 2019.