The Uganda Securities Exchange (USE) has suspended the trading of Kenya Airways shares due to the ongoing ownership restructuring.
Paul Bwiso, the Chief Executive Officer at USE says Kenya Airways PLC is currently undergoing equity and debt restructuring and to facilitate the conclusion of the transaction without disrupting the price of the company’s shares and in accordance with a directive of the Capital Markets of Kenya, the USE on Thursday approved an application to immediately suspend the trading of Kenya Airways shares on USE.
“Therefore all trading on Kenya Airways PLC counter is hereby suspended from 16th November 2017 up to 28th November 2017. The public will be informed when the suspension is lifted and when normal trading can resume,” Bwiso said in a statement.
He added: “The issuer is required to continue to comply to all its listing obligations during the suspension period and make progress reports to the Exchange.”