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Britam share hits peak since IPO on rival’s buyout talks

Britam director Dawood Rawat with Benson Wairegi (left), Britam's group managing director on September 8, 2011 during the company's bell ringing at Nairobi Securities Exchange. The company’s shares on Monday hit a high of Sh16 which is almost double the Sh9 at which it initially offered its shares to investors in an initial public offer more than two years ago. Photo/FILE

Britam's share yesterday hit its highest level since listing on the Nairobi bourse in July 2011, on buyout news of rival Real Insurance that will nearly double its market share.

The firm’s shares stood at Sh14.75 at the close of trading at the Nairobi Securities Exchange (NSE), compared to Friday’s closing price of Sh13.20 and its IPO price of Sh9.

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