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Kenya Airways shares suspension extended for nine months
Wednesday April 07 2021
KQ shares were initially suspended from trading on the Nairobi Securities Exchange (NSE) in July last year.
Shareholders will be waiting to know the price the government will be offering to buy them out.
The Capital Markets Authority (CMA) has extended a share trading freeze on national carrier Kenya Airways #ticker:KQ for another nine months as the airline prepares for the State takeover bid.
KQ shares were initially suspended from trading on the Nairobi Securities Exchange (NSE) in July last year after MPs began to review the law that will pave the way for the government to take back full control of the airline.
THE STANDARD By
Sara Okuoro |
April 7th 2021 at 14:41:12 GMT +0300
The Nairobi Securities Exchange (NSE) has extended the suspension of trading in Kenya Airways (KQ) shares for an additional nine months from April 5, 2021.
NSE said (KQ) is yet to finalise its operational and corporate restructure for the eventual Government buy-out, following the publication of the National Management Aviation Bill, 2020, on 18th June 2020.
“The suspension was approved and issued by the Capital Markets Authority (CMA) pursuant to section 11(3) (w) of the Capital Markets Act and regulation 22 of the Capital Markets (Securities) (Public Offers, Listings and Disclosures) Regulations, 2002,” read a statement from the NSE.