Nairobi Securities Exchange (NSE) has extended suspension on trading of Mumias Sugar Company and fashion retailer Deacons East Africa shares, locking in investor wealth indefinitely.
The financially troubled firms were placed under receivership on September 20, 2019 and November 19, 2018 respectively due to default on loans amounting to billions.
The continued suspension may signal a move to delist the stocks if the companies do not take remedial measures.
“The extension of suspension from trading of the company’s shares will remain in force until further notice,” NSE said on both companies.
“All shareholders, investors and the public are advised to take note of the delisting.”
