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NSE companies surrender Sh10.4bn unclaimed shares
The authority has a year to search for the owners of the shares or their beneficiaries, if deceased, after which they can be sold at the prevailing market rates. PHOTO | FILE
Fifteen companies listed on the Nairobi Securities Exchange (NSE) have surrendered shares worth Sh10.4 billion to the Unclaimed Financial Assets Authority (UFAA) in the past 12 months, underlining the extent of wealth whose owners cannot be found.
The Sh10 billion treasure was surrendered in the form of 95 million shares whose owners have not communicated with the companies or claimed their dividends for more than three years.
