The Capital Markets Authority (CMA) has delayed approval of a financial instrument that will allow Kenyan investors access to the ongoing Dangote Petroleum shares sale for as little as Sh490 via the Nairobi Securities Exchange (NSE).
CMA reckons that promoters of the instrument, which is technically known as global depository receipts (GDRs), must clear undisclosed pending issues before getting approval to market Dangote’s Initial Public Offering (IPO) locally and list a copy of the shares at the NSE.
