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Sunday, December 5, 2021

NBK exits Stock Market

Following its acquisition by KCB Group through a share swap, the National Bank of Kenya (NBK) is due to be delisted from the Nairobi Securities Exchange on Thursday.

The delisting marks the lender’s formal exit from the bourse, which will now be left with 11 banks.

NBK’s shares had already been suspended from trading ahead of the transaction, with the delisting signifying the lender’s formal exit from the bourse.

“Notice is hereby given on the de-listing of National Bank of Kenya Limited (NBK) from the Nairobi Securities Exchange (NSE) with effect from November 25, 2021,” the bourse operator said in a statement on Monday.

NBK investors, notably the National Treasury and the National Social Security Fund (NSSF), took part in the transaction by exchanging 10 NBK shares for one KCB share.

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