NAIROBI STOCK EXCHANGE SUSPENDS DEACONS

The Nairobi Stock Exchange, as directed by the Capital Markets Authority of Kenya, has suspended trading in the shares of Deacons (East Africa) Ltd with immediate effect.

According to a notice from the Exchange, the suspension was due to the appointment of joint administrators by the Board of ditectirs of the company preparatory to winding up.

Deacons is quoted on the commercial and services sector of the capital market and 112,600 units of its shares was traded on November 15, 2018 at Ksh 0.45 per share of nominal value of Ksh2.50.

That price was the lowest in the last one year and represents a huge drop from the highest price of Ksh 5.10 per share achieved within the same period.

The suspension will remain in force for 40 working days and it brings the number of suspended equities in the market to 3.

In the same sector, Atlas African Industries plc had also been suspended at last traded price of Ksh 1.05 per share of Ksh 1 nominal value. As at when it was suspended, its high and low in the last one year was Ksh 1.30 and 1.00 per share respectively.

Also suspended was ARM Cement Plc in the construction sector. It was suspended when the price was Ksh 5.55 per share after hitting year high and low of Ksh 23.50 and 2.40 per share respectively.

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