Bamburi Cement Plc is on the brink of delisting from the Nairobi Securities Exchange (NSE) after the NSE extended its suspension of trading, following a near-total buyout by Tanzania’s Amsons Group.
- •NSE extended the suspension after Amsons acquired 96.54% of Bamburi’s issued shares.
- •This stake crosses the threshold that requires compulsory acquisition of the remaining shares under Kenyan law. Amsons now moves to acquire all outstanding shares.
- •Regulation 73(2)(b) of the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023, allows NSE to suspend shares to facilitate takeovers and protect the market during compulsory buyouts.
The exchange said in its latest notice, “The extension allows for completion of the share transfer process in line with legal and regulatory requirements.” The original suspension began on 21 May 2025, initially for 60 days, but it now continues until the Capital Markets Authority (CMA) gives further direction.
Amsons launched its buyout at KSh 65 per share in late 2024. Lafarge subsidiaries Fincem and Kencem Holdings, holding more than 58% of Bamburi Cement, accepted immediately. Other shareholders followed, and Amsons crossed the 90% threshold that triggers a squeeze-out process for minorities.
This move led to the mandatory trading suspension on the NSE. The company now completes legal steps to become a wholly owned Amsons subsidiary. The suspension ensures trading remains halted while share transfers and notifications to minorities finalize.
Next Steps and Market Impact
Completion of the squeeze-out will almost certainly delist Bamburi, ending a public listing history that began in the 1970s. Remaining shareholders face a final choice: accept the KSh 65 offer or have their shares acquired compulsorily.
NSE and CMA urge all stakeholders to monitor official announcements for updates on the suspension and the delisting timeline.
