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Kenya bourse plans to list 40 pct stake in 2014
Posted on Tuesday, March 20, 2012 @ 08:41:18 CDT by kwpnews

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NAIROBI,(Reuters) - The Nairobi Securities Exchange plans to list a 40 percent stake on the bourse in 2014, its chairman said on Tuesday, after it is demutualised.
 



"We will do a valuation of the exchange and determine what the price of the shares should be," Chairman Eddy Njoroge told Reuters after a news conference to unveil the bourse's new board members.

The largest bourse in east Africa had said in December 2010 it would demutualise, a process seen as reining in stockbrokers' influence on the bourse's management.

Njoroge said it was now awaiting regulation from the Capital Markets Authority (CMA) to allow other shareholders such as the government and an investor compensation fund to take a stake.

At present the bourse is owned by 22 stockbrokers.
 


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