CMA Limits Individuals' Stake In NSE; May Force Investors To Sell
May 18, 2016 at 12:00 am EDT
The Capital Markets Authority (CMA) has limited individual shareholding in Nairobi Securities Exchange Limited (NASE:NSE.O) (NSE) to 5%. They may force sell-offs by some investors and investors whose shareholding is currently above the set limits have a six-month period to comply with the regulation. "An individual or private company shall not, at any time, directly or indirectly, either individually or together with persons acting in concert hold more than 5% of the equity share capital of the exchange," stated part of the regulations gazetted by Treasury secretary Henry Rotich.