NSE Extends Trading Suspension of Nairobi Business Ventures Until Nov 30

Foreign investors were bearish on Nairobi Securities Exchange (NSE) offloading their stakes on Safaricom and Equity Group, according to Genghis Capital.

Nairobi Securities Exchange

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.