The Nairobi Securities Exchange issued a notice to investors and the public concerning the suspension of Athi River Mining(ARM) shares from the bourse.
ARM Cement was placed under administration in August 2018 after it failed to meet its financial obligations. In the same month, the stock was suspended from trading on the Nairobi Securities Exchange.
The Capital Markets Authority extended the suspension with effect from 8th May, 2020, until further notice.
The company manufactures and sells cement and cement products through its subsidiaries in Kenya, Tanzania, South Africa, and Rwanda. It also produces fertilizers under the brand name Mavuno.
ARM’s Kenyan assets were acquired by its main rival National Cement in 2019 at a cost of KSh5 billion.
The suspension from trading ARM shares at the bourse has been extended several times by the Capital Markets Authority.