Time flies with great content! Renew in to keep enjoying all our premium content.
Prime
Stockbrokers warn of mass NSE forced buyouts, delistings
From left-Kenya Association of Stockbrokers and Investment Banks CEO Willie Njoroge, AIB Capital boss Paul Mwai and Nairobi Securities Exchange CEO Geoffrey Odundo at a function on March 28, 2019. FILE PHOTO | NMG
Stockbrokers and investment banks have warned of mass takeovers and delisting from the Nairobi Securities Exchange (NSE) following the coming into force of a new law lowering the threshold for a forcible buyout of minority shareholders.
The Statute Law (Miscellaneous Amendments) Act No. 12 of 2019, which took effect in July, allows shareholders with a 50 percent stake to make compulsory acquisitions of shares held by the remaining investors.
