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NSE Suspends Bamburi Cement Shares From Trading

Amsons Industries in December 2024 successfully bought 96.54% of Bamburi Cement shares

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Bamburi cement shares suspended
Bamburi was listed on the Nairobi Securities Exchange (NSE) Construction and Allied category in 1970.
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The Nairobi Securities Exchange has suspended trading in Bamburi Cement shares, effective 28th February 2025, after the company was acquired by a Tanzanian conglomerate. Bamburi Cement shares have been trading at the NSE since it was listed 55 years ago.

Amsons Industries (K) Ltd in December 2024 successfully bought 96.54% of Bamburi Cement’s shares. “Notice is hereby given of the suspension of trading of Bamburi Cement Plc securities following the acquisition of 96.54% of the company’s issued ordinary shares,” the NSE said in a statement today.

It said offeror, Amsons Industries, has attained the threshold of acceptances, which entitles it to undertake compulsory acquisition of the remaining just over 3% shareholders. Trading has been suspended to facilitate requisite legal measures to implement the anticipated squeeze-out of remaining shareholders in compliance with regulatory requirements.

This suspension has been issued under Regulation 73(2)(b) of the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023. The suspension in trading of Bamburi company’s shares takes effect from 28th February 2025 and shall remain in force until 9th May 2025, or such other period as may be determined by the Authority. “All shareholders, investors and the general public are advised to take note of the suspension,” NSE says.

> Amsons Group Pumps $320 Million in New Investments

Bamburi was listed on the Nairobi Securities Exchange (NSE) Construction and Allied category in 1970 and the value of its shares rose to an all-time high of Ksh250 in 2007. The cement manufacturer closed trading at Ksh56.50 on 26th February.

Amsons stated in its offer document that if it achieves 75% or more acceptances of the Offer Shares, it will assess whether Bamburi should remain listed on the NSE and may apply for delisting.

In December, Amsons offer was subscribed by over 90%, granting the company the option to compulsorily buyout any remaining shareholders for a consideration equal to the prevailing market price.

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Written by
KALU MENGO

Kalu Mengo is a Senior Reporter With Business Today. Email: [email protected]

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