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NSE Extends Suspension of Trading on Nairobi Business Ventures

The Nairobi Securities Exchange (NSE) has extended the suspension of Nairobi Business Ventures (NBV) from trading on the bourse.

NSE says the extension will allow for completion of the company’s restructuring process that includes a share split, allotment, and issuance of shares to Delta International FZE.

A notice from the securities exchange says NBV which is listed on the Growth and Enterprise Market Segment, under the Commercial and Services Sector remains suspended from the trading floor until 30th November, 2020.

NBV Limited deals primarily in the sale of shoes and leather accessories which are re-branded under the name K-Shoes.

The shoes and accessories are mostly imported from China and India and re-branded for the Kenyan domestic market.

At the time of suspension last year, NBV shares were trading at 0.71 cents each with a market capitalization of 28 Million shillings with 38.6 million shares.

Other firms suspended at the exchange for a variety of reasons, include Deacons, Athi River Mining, Kenya Airways, National Bank of Kenya and Mumias Sugar Company.