Nairobi Securities Exchange has extended the suspension of Nairobi Business Ventures (NBV) from trading on the bourse to allow for completion of the company’s restructuring process.
The Kenya-based company shoe, and leather accessories retail chain operates under the brand name KShoe, will remain suspended until 30th November 2020.
The company’s restructuring process includes a share split, allotment, and issuance of shares to Delta International FZE.
NBV shareholders approved the sale of 84% of the firm to Delta International FZE for Kshs 83 million.
Other firms suspended at the exchange for a variety of reasons, include Deacons, Athi River Mining, Kenya Airways, National Bank of Kenya and Mumias Sugar Company.