KenolKobil delisted from NSE

By Steve UMIDHA On Aug 23, 2019

KenolKobil will not trade at the Nairobi Securities Exchange beginning today, a statement from Nairobi Securities Exchange confirmed Friday morning – with the directive coming following 100 per cent acquisition of Kobil’s entire shares by Rubis Energie, which consequently disqualified KenolKobil from operating as a listed entity.

“The delisting has been approved by the Capital Markets Authority. We are therefore giving a notice on the delisting of KenolKobil from the Nairobi Securities Exchange effective August 23,” reads a statement from NSE.

KenolKobil, worth close to $225 million by market capitalisation, also operates in Ethiopia, Uganda, Rwanda, Burundi and Zambia. With a market value of about $4.7 billion, Rubis already has operations in Africa, as well as Europe, Central America and the Caribbean.

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Steven Umidha is a data and financial journalist with over 14 years of work experience in journalism and communication.

He specialises in finance and economics reporting as well as on the causes, impacts, and solutions of global warming, conservation, pollution and sustainability, often blending scientific literacy with journalist ethics, while involving policy analysis and multimedia storytelling across various platforms in highlighting issues from biodiversity loss to ecological justice.

Besides being the Founder of Financial Fortune Media, Umidha has previously worked with the Standard Media Group, Mediamax Networks LTD, bird story agency, Business Journal Africa, and Financial Post among other outlets.

He can be reached on: Email: info@financialfortunemedia.com
Cell: +(254)726-879-488

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