The National Bank of Kenya (NBK) has been delisted from the Nairobi Securities Exchange (NSE) following a 100 percent acquisition by the Kenya Commercial Bank (KCB).
In a notice on Monday, NSE said that the delisting will take effect on November 25, 2021.
“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 de-listing follows the successful takeover of 100% shareholding of NBK by KCB Group Plc and NBK shareholders’ approval,” the notice read in part.
The de-listing is approved and issued by the Capital Markets Authority pursuant to Regulation 22(4) C of the Capital Markets (Securities) (Public Offers, Listing & Disclosures) Regulations 2002.
NBK was fully acquired by KCB Group in 2019, following a series of loss-making which sank the lender into the red.