Site icon KahawaTungu

National Bank Delists From The Bourse After Full Acquisition By KCB

The National Bank of Kenya (NBK) has delisted from the Nairobi Securities Exchange (NSE) following a full acquisition by the Kenya Commercial Bank (KCB).

In a notice on Monday, NSE announced that the delisting of the lender will take effect on November 25, 2021, after approval by shareholders.

“Notice is hereby given on the de-listing of National Bank of Kenya Limited (NBK) from the Nairobi Securities Exchange (NSE) with effect from November 25, 2021. The de-listing follows the successful takeover of 100% shareholding of NBK by KCB Group Plc and NBK shareholders’ approval,” said NSE in a statement.

Read: KCB Gets Nod To Acquire 100 Percent Stake At NBK

The de-listing is approved and issued by the Capital Markets Authority pursuant to Regulation 22(4)
C of the Capital Markets (Securities) (Public Offers, Listing & Disclosures) Regulations 2002.

NBK was initially fully owned by the government since its inception in 1968, but the government has shed its stake to 22.5 percent.

However, the lender fell into a financial crisis and was operating in the red until 2020, when KCB floated the takeover bid.

In the takeover transaction actualised through a share swap, those with shares in NBK swapped their shares with shares in KCB Group. 10 shares in NBK gave one 1 share in the new merger.

NBK’s management has been accused of mismanagement and collusion with defaulters to forfeit the loans, which had run down the bank.

Email your news TIPS to or WhatsApp +254707482874. You can also find us on Telegram through

Exit mobile version