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NCBA shares hit all-time high on Standard Bank buyout offer
NCBA Group Managing Director and CEO John Gachora during a media briefing to announce their half year financial result release at Radison Blu Hotel in Nairobi on August 24, 2023.
Shares of NCBA Group hit an all-time high of Sh75.25 on Tuesday on news of its potential acquisition by Africa’s largest lender, Standard Bank Group, in a deal that could dramatically alter the structure and ownership of Kenya’s banking sector.
The lender’s share gained 8.27 percent from Sh69.50, closing the day as the second top gainer at the Nairobi Securities Exchange (NSE), as investors factored in the potential deal.
