The Nairobi Securities Exchange has suspended trading in East African Portland Cement after unverified reports surfaced regarding a possible transfer of shares.
The bourse stated that the decision, taken in consultation with the Capital Markets Authority, was purely precautionary to preserve orderly trading as the information undergoes verification. It added that it is in talks with the company and will offer direction once the facts are established.
The suspension comes shortly after a newspaper notice revealed that Kalahari Cement had agreed to acquire NSSF’s 27 percent stake in Portland for KSh 1.6 billion at KSh 66 a share. The investor indicated it will seek a takeover exemption, does not intend to delist the firm, and plans to back its turnaround efforts. Portland last traded at KSh 66.00 before the freeze, its highest level since March 2015.
Uchumi Supermarkets, meanwhile, continues its sharp ascent, trading at KSh 0.93 after a 9.41 percent jump. This is its strongest price since January 2019. Its year-to-date surge has now reached 447 percent, leaving it second only to Sameer Africa’s 457 percent. The counter has now enjoyed nine consecutive sessions of 7 to 10 percent gains.
Turnover stands at KSh 1.567 billion from 42 million shares traded across 4,178 deals. Safaricom leads with KSh 463 million in turnover, followed by EABL at KSh 285 million, KCB at KSh 194 million, Equity at KSh 169 million and BK Group at KSh 159 million.
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Foreign investors bought shares worth KSh 650.6 million, led by EABL (KSh 192 million), BK Group (KSh 159 million), Safaricom (KSh 157 million) and KCB (KSh 120 million).
Foreign sales amounted to KSh 1.147 billion, dominated by Safaricom (KSh 445 million), EABL (KSh 262 million), BK Group (KSh 159 million), KCB (KSh 114 million) and Absa (KSh 86 million).
The day’s largest single transaction was in BK Group, with 3.978 million shares changing hands at KSh 40.00 at 12:52 pm. The pattern suggests it was a foreign-to-foreign block trade.
The NASI slipped 1 percent, extending the previous day’s sharp fall, its fourth-worst decline of the year.
Top gainers were Portland (+9.54 percent), Uchumi (+9.41 percent) and Standard Group (+7.02 percent).
Losers included Longhorn (–5.57 percent), Home Afrika (–5.56 percent) and TPS Serena (–5.04 percent).
