The Capital Markets Authority has approved the de-listing of the National Bank of Kenya from the Nairobi Securities Exchange.
This follows the successful takeover of 100 per cent shareholding of NBK by KCB Group and NBK shareholders approval.
“Notice is hereby given on the de-listing of National Bank of Kenya from the Nairobi Securities Exchange with effect from November 25 2021,” read a statement from the Nairobi bourse.
The de-listing was approved and issued by the CMA pursuant to Regulation 22(4) C of the Capital Markets(Securities, Public Offers, Listing and Disclosures) Regulations 2022.
The Nairobi bourse called on all shareholders, investors, and the general public to take notice of the de-listing.
NBK's acquisition by KCB was made formal in September 2019 after approvals by the Central bank of Kenya and the CMA.
After the acquisition, NBK shareholders who swapped their shares for those of KCB were able to freely trade the new stocks at the NSE.
The acquisition saw KCB become the largest lender in the region in terms of numbers as well as assets.
The bank owns banking subsidiaries in Uganda, Tanzania, Rwanda, Burundi and South Sudan.
KCB's investment in NBK has been paying back after the subsidiary posted a Sh1.1 billion net profit in the first nine months of 2021, a 1,126 per cent increase from Sh87 million in a similar period last year.
In the past, other companies that delisted from the NSE include Energy Company Kenol Kobil after a successful acquisition by Rubis Energies S.A.S. in August 2019.
The oil distributor was acquired at a cost of Sh36 billion.
Atlas Development and Support Services limited was also delisted from the NSE after it shut down its business and deregistered in the UK.
The company was suspended from trading at the Nairobi Securities Exchange in May 2017 after it failed to comply with the listing rules.
