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Fahari to block trading for those snubbing buyout
ILAM Fahari I-REIT Chief Executive Officer Raphael Mwito (left), Dyer and Blair Investment Bank Director Cynthia Mbaru (centre) and ILAM CEO Einstein Kihanda during a media briefing on the proposed conversion of ILAM Fahari I-REIT from an unrestricted I-REIT into a restricted I-REIT and redemption offer at Radisson Blu, Nairobi on September 4, 2023. PHOTO | LUCY WANJIRU | NMG
Retail investors in ILAM Fahari I-Reit will not be able to trade their holdings in the property vehicle if they decline to sell and the fund is delisted from the Nairobi Securities Exchange (NSE).
The small investors will be bundled into a single nominee account which they will not be able to exit but through which they will retain other rights like receiving their proportionate cash distributions (dividends).
