ILAM Fahari Income Real Estate Investment Trust (ILAM Fahari I-REIT) is delisting its shares from the Nairobi Securities Exchange (NSE) main segment effective February 12, 2024.
The last day of trading of ILAM Fahari I-REIT shares on the segment will be Friday, February 9, 2024.
“This follows the resolution by Unitholders of IFIR to delist and the subsequent approval of the delisting by the Capital Markets Authority (CMA),” the statement added.
Shares of the company listed on the segment are freely transferable and not subject to any restrictions on marketability or any preemptive rights.
ILAM Fahari I-REIT is in the process of applying to have its securities admitted for trading over the counter on the Unquoted Securities Platform (USP) of the NSE.
“Further information will be communicated once approvals have been received. All unitholders of IFIR are asked to take note of the delisting,” the statement added.
If approved, ILAM Fahari I-REIT will join Acorn D-REIT and I-REIT on the USP for three years, after which, should the strategic objectives of the operational restructuring be met, the REIT will reconsider the possibility of re-listing on the NSE.
