Stock market

Atlas shares suspended from trading

Loss-making firm Atlas African Industries Ltd was today suspended from trading after its nominated advisor (Nomad), Stifel Nicolaus Europe Limited, resigned for undisclosed reasons. The firm, which is dual-listed on London’s Alternative Investment Market and Nairobi Securities Exchange’s Growth Enterprise Market Segment, said the suspension will continue until it hires ...

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Kshoe takes bold step to list on NSE

Nairobi Business Ventures (NBV), a local shoe and leather accessories retail chain operating under the brand name KShoe, today listed by introduction on the Growth Enterprises Market Segment of the Nairobi Securities Exchange (NSE). The company listed 23.6 million shares at a share price of Ksh5, giving the company a valuation ...

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KenGen taps rights issue for Ksh29 billion

Albert Mugo KenGen

Shareholders of the Kenya Electricity Generating Company (KENGEN) can now take up their entitlement in the rights issue following the opening of the offer yesterday. KenGen is offering a total of 4, 396, 722, 912 new ordinary shares at a discounted price of Ksh6.55 per share to raise Ksh29 billion for business ...

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Safaricom profit hits Ksh38 billion

Mobile services operator Safaricom posted a 19% increase in full-year profit that exceeded market expectations as new users helped drive income from all services such as mobile money, voice and data. The company that’s 40 percent owned by Vodafone Group, said net income jumped to Ksh38 billion ($377.6 million) in ...

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Equity first quarter profit jumps to Ksh5.1 billion

Equity Bank CEO james Mwangi

Equity Bank Group has reported a 20 per cent jump in profits for the first quarter of the year, buoyed by an increase in interest income. Profit before tax increased from Ksh6.1 billion to Ksh7.3 billion while profit after tax rose from Ksh4.3 billion to Ksh5.1 billion for the same period last year. ...

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New products lift Eveready income by Ksh120 million

AGM Eveready MD Jackson Mutua speaks at the AGM today

Eveready East Africa says its diversification strategy has started paying off with new products contributing Ksh120 million in revenues last year.  The amount represents 10 per cent of the Ksh1.2 billion turnover realised last year. The company, which is positioning itself as a trading and distribution company for consumer fast ...

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Uchumi shares fall off investors’ radar

Two analysts have issued bleak outlook for Uchumi Supermarkets in research notes to investors. Cytonn Investments has made a U-turn from its earlier note advising investors to buy the retailer’s stock, and has entirely dropped it from its recommended portfolio. Exotix Frontier Research has advised investors to sell Uchumi share with a ...

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KQ to sack 600 employees in May

Kenya Airways has announced that 600 employees will lose their jobs as it moves to restructure its operations. KQ has been in the limelight since CEO Mbuvi Ngunze took over last year, recording record losses and has struggled to stabilize over the years. Through tweets from the airline’s official handle, KQ said ...

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NBK sinks in Ksh1.2 billion loss

National Bank of Kenya

National Bank of Kenya (NBK) reported a full-year loss of Ksh1.2 billion, just a day after issuing a profit warning.  This is a major reversal from an after-tax profit of Ksh870.7 million in 2014, which represents a drop of 234.4 per cent attributed mainly to to provision for bad loans, ...

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NSE indicators down despite rise in trade

Business Today Logo

Turnover rose to Ksh805M from the previous session’s Ksh525M, the number of shares traded stood at 30M against 23M posted yesterday. The NSE 20 Share Index was down 38.63 points to stand at 3941.46, the All Share Index (NASI) shed 2.45 points to stand at 144.76, while NSE 25 Share ...

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