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Banks get a window to sell Sh6.4bn KQ shares on NSE

Nairobi Securities Exchange vice chairman Bob Karina, Kenya Airways CEO Sebastian Mikosz, NSE CEO Geoffrey Odundo and Kenya Airways acting finance director Hellen Mwariri at the bourse on November 29, 2017. FILE PHOTO | SALATON NJAU | NMG

By  Victor Juma

Business Editor

Nation Media Group

Ten local banks have started the process of selling 663.5 million Kenya Airways #ticker:KQ shares currently worth Sh6.4 billion as part of the effort to recover funds that have been stuck in the carrier since the May 2016 loans default.

The banks, including Kenya’s largest KCB #ticker:KCB and Equity #ticker:EQTY, will trade the shares over 10 years using an investment vehicle, KQ Lenders 2017 Limited.

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