KQ’s Shares Will Remain Suspended From The NSE For 12 More Months

Juma

2 years ago

The suspension of Kenya Airways’ (KQ) shares from trading at the Nairobi Securities Exchange (NSE) has been extended for 12 more months, making it four years since the suspension was put in place.

The statement from the NSE stated that the move to extend the suspension is to give Kenya Airways management more time to complete its operational and corporate restructuring process.

“Notice is hereby given on the extension of suspension from trading of Kenya Airways Plc shares. The extension of suspension seeks to enable the company to complete its operational and corporate
restructuring process,” NSE stated.

The NSE added that “The suspension was approved and issued by the Capital Markets Authority (CMA) pursuant to section 11(3) (w) of the Capital Markets Act and regulation 22 of the Capital Markets (Securities) Public Offers, Listings and Disclosures) Regulations, 2002.”

The Kenya Airways’ s shares at the bourse were first suspended in July 2020, when the government floated a plan to privatize it and bring it back to the old glory days of being the pride of Africa.

Last month, Kenya Airways announced the expanding its codeshare partnership with South African Airways (SAA) to include direct flights from South Africa to South America.

Kenya Airways customers will now experience a seamless travel journey to Sao Paulo, Brazil, via Johannesburg on one ticket, as KQ codeshares on the recently reintroduced South Africa Airways flight to Sao Paulo (GRU).

This collaboration establishes unparalleled connectivity, offering the most direct flight option from this region, contrasting with current routes that often involve transits through the Middle East, Europe, or North America.

The strategic partnership, built on a shared commitment to enhancing connectivity and elevating the passenger experience, unites the strengths of two leading African airlines.