What next after the delisting of KenolKobil?

Total Kenya is now the only oil marketer trading at the Nairobi Securities Exchange (NSE) following Kenol Kobil’s delisting after its acquisition by Rubis Energie, a French firm.

Capital Markets Authority suspended the trading of the shares on the bourse in February 2019 following the conclusion of the 36 billion shillings buyout by Rubis Energie.

Investors at Kenol Kobil offered 1,145,757,700 shares up for sale; equivalent to 96.85 percent of shares not already owned by the French company. 3.1 percent of Kenol Kobil’s shareholders declined the deal.

Kenol Kobil was first listed on the NSE in September 1959.

Six firms have been delisted from NSE in the last 10 years — Unilever Tea (2008), Access Kenya (2013), Rea Vipingo (2015) as well as Marshall East Africa, Hutchings Biemer and A. Baumann in 2017.