Corporate News
Treasury wins big in NSE share sale plan
Traders at NSE. Demutualisation is expected to curtail stockbrokers’ influence on the day-to-day running of the exchange. Photo/FILE
Posted Friday, March 5 2010 at 00:00
The report argued that this was the only time during which transaction records were available.
Gain value
Mr Njoroge said that the ownership separation process will commence as soon as the demutualization Bill currently before Parliament is passed into law.
Brokerage firms currently under statutory management got a reprieve after brokers agreed to have them take their proportion of ownership, but Mr Njoroge said their financial benefit could be transferred to the creditors if the go into liquidation.
“We expect the bourse to gain value over time before the IPO is done,” said Mr Njoroge. Mr Job Kihumba, a member of the NSE board, said the transitional period after demutualisation will allow time for the bourse to realise its value before selling to the public.
RSS