Nairobi Business Ventures Lists 415 Million Shares on NSE

Nairobi Business Ventures Lists 415 Million Shares on NSE

L-R:NSE CEO Geoffrey Odundo NBV Chairman Haresh Soni, NSE Chairman Kiprono Kittony and ABC Group Managing Director Shamaz Savani at NBV's bell ringing ceremony. NBV listed an additional 415 million shares on the NSE. PHOTO: NSE

Nairobi Business Ventures (NBV), a local shoe and leather accessories retail chain operating under the K-Shoe brand, has listed an additional 415 million shares at the Nairobi bourse.

This follows the completion of its restructuring process and the subsequent onboarding of Delta International (FZE) strategic investors.

Delta International FZE, an infrastructural and industrial conglomerate acquired an 84 percent majority stake at Nairobi Business Ventures (NBV) for KSh83 million.

NBV will now focus on manufacturing, importing, and selling raw materials used by cement and steel processors and other companies in the infrastructure sector.

“Africa is the future of economic opportunities and NBV is committed to join the race with its contribution. We want to part of the Big Four agenda of the Kenyan government also and our main focussed sectors of activity shall be infrastructure,” chairman Haresh Soni said at the firm’s bell-ringing ceremony.

“As a market, we congratulate Nairobi Business Ventures Limited for completing its restructuring process which will support business recovery and enhance shareholder value,” Odundo Geoffrey, Chief Executive, Nairobi Securities Exchange.