The shares of KCB group and NBK have been suspended from trading at the Nairobi Securities Exchange after information on their potential merger surfaced.
It is said that KCB group plans acquire assets of the struggling National Bank of Kenya which recorded a 98 percent decline in net earnings in 2018.
In line with the Capital Markets regulations, NSE has suspended the two banking stocks as they wait for more information to be released to the public.
Nairobi Securities Exchange (NSE) halts trading in KCB Group & National Bank shares over a material announcement affecting the two counters. Merger? pic.twitter.com/4jA0a1B2fV
— Kenyanwallstreet (@kenyanwalstreet) April 18, 2019
More to follow…….
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