Kenya Airways (KQ) share trading has been dropped from the Nairobi bourse for a further 12 months to enable the firm complete operational and restructure process.
The suspension was approved and issued by the Capital Markets Authority (CMA) pursuant to section 11(3)(w) of the Capital Markets Act and regulation 22 of the Capital Markets (Securities) (Public Offers, Listings and Disclosures) Regulations, 2002.“The extension of suspension from trading the company’s shares will remain in force for an additional twelve (12) months, with effect from January 5, 2023. All shareholders, investors and the general public are asked to take note of the suspension,” said NSE notice.
Kenya Airways’s shares have been suspended for the third time. The first suspension occurred in July 2020, when MPs began a review of the law to allow the state to take over the airline. In 2019, lawmakers approved the Treasury’s plan to nationalize KQ.