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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.