South Africa’s Standard Bank has received a further extension from Kenya’s Capital Markets Authority to acquire more shares in Stanbic Holdings.
The acquisition will involve a maximum of an additional 10.6 million ordinary shares.
“SAHL is pleased to announce that the Authority has granted a further extension of the exemption to trade on market for a period expiring on 31 December 2022,” said in a notice.
“SAHL will aim to acquire a maximum of 10,588,143 additional ordinary shares (the ‘Maximum Acquisition Shares’) available for sale on the Nairobi Securities Exchange in accordance with the applicable rule.”
The increase, if successful, will take its holdings to around 75 per cent of the issued ordinary shares of Stanbic Holdings.
Stanbic Africa Holdings Limited is a Private limited with a Share Capital company based in the United Kingdom started accumulating more shares in the Nairobi Securities Exchange-listed firm in July 2018.
By November 2020, it had raised its stake in the lender to 71.16 per cent.
Stanbic’s current share price is Ksh 94.50 on the Nairobi Securities Exchange (NSE). Stanbic began the year with a share price of Ksh 87.25 an 8.31 per cent gain on that price valuation.
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