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NSE lifts Nairobi Business Ventures shares suspension

BUSINESS NEWS
By Wainaina Wambu | November 30th 2020

NAIROBI, KENYA: The Nairobi Securities Exchange (NSE) has lifted the suspension in trading of Nairobi Business Ventures (NBV) Ltd securities.

This follows the suspension of trading effected on the security mid last month to allow for the completion of the company’s restructuring exercise.

This includes a share split, allotment and issuance of shares to Delta International FZE and subscription agreement between NBV and Delta.

The lifting of the suspension in the trading of the securities was approved by the Capital Markets Authority on Monday.

At the firm’s bell-ringing ceremony, NBV Chairman Haresh Soni said the growth of infrastructure across Africa presented the company with opportunities to supply companies with making end products such as cement and steel.
“Africa is the future of economic opportunities and NBV is committed to joining the race with its contribution,” he said.

"We want to be part of the Big Four agenda and our main focused sectors of activity shall be infrastructure."

NSE Chairman Kiprono Kittony said the capital injection and new business focus would play a significant role in reviving business operations as well as renew investor’s confidence in the prospects and future of the business.
The investment also resulted in NBV getting a new board of directors.

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