Kenya government through the National Treasury has introduced new restrictions in regards to shareholding of the Nairobi Securities Exchange by individuals/private companies, public companies and other trading participants. In a gazette notice, The Cabinet secretary highlights the following ;
- An individual or a private shall not hold more than 5% of the equity share capital of the Exchange.
- A Public company shall not hold more than 10% of the equity share capital of the exchange.
- Trading participants shall not cumulatively hold more than 40% of the total equity shareholding of the exchange.
“The regulations however make a provision for a waiver from above requirements upon application to the Capital Markets Authority by the above parties.” Read the notice.
Shareholders whose ownership exceeds the above requirements are advised to comply within the next six months.
