NSE Lifts Suspension of Trading on NBV Shares
The Nairobi Securities Exchange (NSE) has lifted the suspension of Nairobi Business Ventures (NBV) from trading at the bourse.
This follows the firms’ completion of its restructuring process and the onboarding of a new investor, Delta International (FZE), resulting in the listing of 415 million new shares.
This means Nairobi Business Ventures will now focus on manufacturing, importing, and selling raw materials used by cement and steel processors and other companies in the infrastructure sector.
Two weeks ago, the Nairobi Securities Exchange extended the suspension of the Nairobi Business Ventures from the trading floor to allow for completion of the company’s restructuring process that includes a share split, allotment, and issuance of shares to Delta International FZE.
Thursday listing follows the completion of a kes. 83 million investment by Dubai-based Delta International FZE that begun in early in the month.
Nairobi Business Ventures initially dealt in the sale of shoes and leather accessories which are rebranded under the name K-Shoes
NSE Chairman, Kiprono Kittony noted that the restructuring would play a significant role in reviving business operations as well as renew investor’s confidence in the prospects and future of the business.
Going forward NBV has set its sight on opportunities within the infrastructure sector leveraging on the growing demand for mega projects in Africa that have created a demand for cement and steel.