Home » Africa: Nairobi Securities Exchange halts trading in Kenya Airways shares for 3 months due to government buy over

Africa: Nairobi Securities Exchange halts trading in Kenya Airways shares for 3 months due to government buy over

by Atqnews
0 comments
Kenya QK shares Bangkok African Kenya Airways

The Nairobi Securities Exchange (NSE) on Friday suspended the trading of Kenya Airways shares due to an impending government buyout.

According to, africa.cgtn.com, the NSE said in a statement that the national carrier’s operational and corporate restructuring is now imminent following the publication of the National Management Aviation Bill, 2020, in June.

“Consequently, the company has applied for suspension of trading in its shares and closure of its register until the resolution of its future is determined,” the bourse said.

Kenya Airways, which was privatized in 1996, is 48.9 percent owned by the government, 38.1 percent by local banks while KLM Royal Dutch airline holds 7.8 percent and other shareholders hold the rest of the stakes.

The suspension of trading in the company’s shares takes effect on July 3 and will remain in force for a period of three calendar months.

Source: africa.cgtn.com

You may also like

Leave a Comment

ATQnews.com

ATQnews.com® a member of Travel Media Group is the online platform for African Travel Quarterly (ATQ), the first travel magazine in West Africa which solely focuses on travel and tourism issues. 

ATQNEWS

Latest News

ATQNEWS @2024 – All Right Reserved.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00