The Capital Markets Authority of Kenya has issued instructions suspending any trading activity of Kenol Kobil shares at the bourse. The suspension follows the company’s takeover by Rubis E
Kenol Kobil investors were expected to take up the offer by trading their stocks at a premium price of Ksh23.
The stock will be suspended from the NSE until 11 March. The suspension will enable Rubis energie to reconcile records and establish how many investors took up the offer.
After the suspension period ends, investors who took up the offer will receive payment. Subsequently, shares will be transferred from the investors’ CDS accounts to Rubis energie account.
Rubis Energie is expected to announce the results of the takeover on 12t March.