South Sudan NEWS PORTAL (JUBA CITY)
The Nairobi Securities Exchange (NSE) on Friday suspended the trading of Kenya Airways shares due to an impending government buyout.
The NSE said in a statement that the national carrier’s operational and corporate restructuring is now imminent following the publication of the National Management Aviation Bill, 2020, in June.
“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 bourse said.
Kenya Airways, which was privatized in 1996, is 48.9 percent owned by the government, 38.1 percent by local banks while KLM Royal Dutch airline holds 7.8 percent and other shareholders hold the rest of the stakes.
The suspension of trading in the company’s shares takes effect on July 3 and will remain in force for a period of three calendar months.
Continue reading at Africa Live – CGTN Africa
As reported by Africa Live – CGTN Africa. Enjoyed this news story? Read more South Sudan news features on Africa Live – CGTN Africa.
Credits : Africa Live – CGTN Africa (https://africa.cgtn.com) → Author : South Sudan PRESS REVIEW
Publishing and Aggregation by : South Sudan NEWS PORTAL
Permission : Central Press Syndicate South Sudan
Facebook : South Sudan NEWS PORTAL
We respect the intellectual property rights of our news sources and expect our users to do the same. We may provide links to external news sources from time to time, but any trademarks, logos, photographs and videos remain their copyrighted works. If you feel our website violates fair use or infringes on your copyright, inform us immediately for redress.
The Central Press Syndicate of South Sudan publishes articles related to South Sudan from press wires, verified social media sources and Google news, thereby centralizing South Sudanese news from all over the web, in an easy to read format.
Read related stories with similar tags below: