National Security Exchange (NSE) has lifted the suspension in trading the Nairobi Business Ventures Limited Shares effective November 30, 2020.
The lifting of the suspension was approved and issued by the Capital Market Authority.
NSE through a statement said that following the suspension of trading effected on the security on November 16, 2020, was to allow the completion of the company’s restructuring exercise.
“Notice is hereby given on the lifting of the suspension in trading of Nairobi Business Ventures Limited Securities effective November 30, 2020.” reads the statement.
NBV Limited deals in the sale of shoes and leather accessories.
The firm’s shareholders had recently approved a Sh83 million investment by Dubai-based Delta International FZE.
The shareholder approval of the Sh83 million investment will result in Delta International FZE owning an 84 per cent stake in NBV, pending all regulatory approvals.
They also approved splitting the shares into two which should result in greater liquidity in the stock.
The shareholder approval now paves the way for NBV to venture into new businesses including trading and the manufacturing of sustainable products.
The investment will additionally result in the creation of 415 million new shares tradable on the Nairobi Securities Exchange (NSE).
By Christabel Airo