Mumias And Deacons Suspended From NSE Indefinitely

Mumias Sugar Company and Deacons have no hopes of getting back to the Nairobi Securities Exchange (NSE) after their suspension was extended indefinitely.

The extension of the suspension means the two listed companies will continue holding investors’ wealth until such a time that they will be allowed to resume trading.

Mumias Sugar Company, which has been going through some massive financial problems, was placed under receivership on September 20, 2019, over an unpaid loan from the Kenya Commercial Bank.

Fashion dealer, Deacons, was placed under receivership on November 19, 2018, over massive losses and debts that threatened to go down with the cash from investors and suppliers.

“The extension of suspension from trading of the company’s shares will remain in force until further notice,” NSE said on both companies.

“All shareholders, investors and the public are advised to take note of the delisting.”

The extension might also see the two firms being delisted from the NSE if the two will not make an effort to remedy the current situations.