NSE kicks out two firms from stock market

Nairobi Securities Exchange (NSE) has delisted two companies effective Thursday over failure to adhere to regulatory requirements.

The securities exchange respectively notified Baumann Limited and Hutchings Biemer shareholders, investors and general public of the delisting in a paid up advertisement.

The NSE said the action against Baumann Limited was as a result of failure by the company to adhere to regulatory requirements from 2008 when the security of the company was suspended from trading on the Nairobi Securities Exchange and subsequent approval of the delisting by the Capital Markets Authority (CMA).

It said that Hutchings Biemer failed to adhere to regulatory requirements from 2001 when the shares of the company were suspended from trading on the Nairobi Securities Exchange and the subsequent approval of the delisting by the Capital Markets Authority.

“All shareholders, investors and the general public are asked to take note of the delisting,” said NSE in a notice.