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The Capital Markets Authority (CMA) has begun hearing the case against former Imperial Bank Ltd (IBL) directors for their failure to disclose key information while floating the lender’s Sh2 billion bond.
The lender is still under receivership. In a statement on Wednesday, CMA said the bank's bosses misled the regulator and investors, before the 2015 issuance of its corporate bond that was set to mature in December 2020.
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