• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Nairobi bourse suspends KQ shares as State takeover nears

samrack by samrack
July 3, 2020
in Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News, U.S Diaspora
A A
0
Nairobi bourse suspends KQ shares as State takeover nears
Share this
FacebookXPinterestEmailWhatsAppLinkedIn
Kenya Airways planes at the parking bay at JKIA on April 17, 2020. PHOTO | FILE

Nairobi bourse suspends KQ shares as State takeover nears

Kenya Airways’ (KQ) shares have been suspended from trading on the Nairobi bourse for three months as the process of State takeover enters a crucial stage.

Nairobi Securities Exchange said in a Friday morning statement that KQ had applied for the suspension.

This will also see the airline’s share register closed until the resolution of its future is determined.

“The company’s operational and corporate restructure and Government buy-out is now imminent following the publication of the National Management Aviation Bill, 2020, on 18th June 2020,” said NSE.

“Consequently, the company has applied for suspension of trading in its shares and closure of its register until the resolution of its future is determined.”

The Capital Markets Authority (CMA) has approved the suspension, which will see KQ shareholders unable to buy or sell their shares during the period.

The suspension sets in immediately and will remain in force up to October 3 and comes at a time KQ share has been witnessing a rally, defying the generally bearish bourse since Covid-19 struck in mid-March.

KQ share has gained by 173.57 percent in the last three months – the highest on the bourse – to close Thursday trading at Sh3.83.

The return of KQ to the NSE now lies in the hands of Parliament given that the passage of the National Aviation Management Bill 2020 will see government take back full control of the national carrier by October and delist it.

The loss-making airline, which is 48.9 percent government-owned and 7.8 percent held by Air France-KLM, was privatised 24 years ago but sank into debt and losses in 2014.

Air-France KLM, which had the option of selling its stake to the government and staying on as a technical partner for the airline, has opted to exit.

The national carrier has been operating only cargo flights for essentials such as medicine since Covid-19 but is now hoping for gradual resumption of passenger flights.

Source:https://www.nation.co.ke/

 

Previous Post

THE AGONY AND PAIN OF A KENYAN PASTOR IN SEATTLE USA

Next Post

Kenyan Bishop Dies of Covid-19 Three Months After the Virus Killed His Eldest Son in the US

Related Posts

Dr.Caroline Mumbi Waweru Wayoike Doctorate in nursing practice minor in education from Capella University. DNP MSN BSN RN.
Announcement

Capella University Celebrates Dr. Caroline Mumbi Waweru Wanyoike’s Remarkable Academic Achievements

September 27, 2023
King Charles III
Diaspora

Royal Visit:King Charles III to Embark on Historic Visit to Kenya

September 26, 2023
Judy Musyoki RN, BSN,
AFRICA RISING

Congratulations to Judy Musyoki RN, BSN on Her Outstanding Graduation Achievement

September 26, 2023
LUCY KUBAI and MUBEA PAUL
Christian News

Another hit Song by our own Diaspora celebrity LUCY KUBAI and MUBEA PAUL.

September 22, 2023
Screengrab of CCTV footage that captured the suspect going over a perimeter wall circumvented with razor wire fence at Woodley Annexe on September 15, 2023.
Diaspora

How girl suspected of killing Eric Maigo escaped:Detectives have identified her as a minor aged between 15 and 17 years old.

September 22, 2023
Elsa Kiprotich, a resident of Houston, Texas,
Diaspora

Elsa Kiprotich: From Charcoal Seller to Real Estate Agent in the US

September 22, 2023
Next Post
Kenyan Bishop Dies of Covid-19 Three Months After the Virus Killed His Eldest Son in the US

Kenyan Bishop Dies of Covid-19 Three Months After the Virus Killed His Eldest Son in the US

Please login to join discussion
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Royal Gardens Ngong Royal Gardens Ngong Royal Gardens Ngong
ADVERTISEMENT

Latest News

Capella University Celebrates Dr. Caroline Mumbi Waweru Wanyoike’s Remarkable Academic Achievements

Royal Visit:King Charles III to Embark on Historic Visit to Kenya

Congratulations to Judy Musyoki RN, BSN on Her Outstanding Graduation Achievement

Another hit Song by our own Diaspora celebrity LUCY KUBAI and MUBEA PAUL.

How girl suspected of killing Eric Maigo escaped:Detectives have identified her as a minor aged between 15 and 17 years old.

Elsa Kiprotich: From Charcoal Seller to Real Estate Agent in the US

Kenyan Student Orville Kimutai Dies While Swimming in Western Australia

Kenyans Who Won US DV 2023 Green Card Blocked From Migrating to America

Transition/Death Announcement of Mrs Susan Njeri Njuguna of Turi Molo

On Civilian Casualties in Sudan

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

On Civilian Casualties in Sudan

On Civilian Casualties in Sudan

by samrack
September 13, 2023
0

On Civilian Casualties in Sudan The United States is alarmed by the recent increase of indiscriminate air and artillery strikes...

President William Ruto of Kenya

Kenya reinstates small fuel subsidy in government U-turn

by samrack
August 16, 2023
0

Kenya reinstates small fuel subsidy in government U-turn Kenya has reinstated a small subsidy to stabilise retail fuel prices for...

  • About Us
  • Archives
  • SWG Registration

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 1.120 seconds. Stats plugin by www.blog.ca