Francis thuo stockbrokers
It looks like your account doens't have access to view this content. You'll need to subscribe or login to do that People familiar with the transaction said Equity Investment Bank, a subsidiary of Equity Bank, had acquired Francis at a price of Sh million.
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Commercial Bank of Africa CBA Capital is said to have paid a similar amount for a seat at the Nairobi bourse. Francis Thuo is the broker that collapsed under the weight of illiquidity in and has recently fought protracted legal battles with the NSE to retain the seat it has now sold to Equity Bank.
Defunct Francis Thuo wins battle for stake in NSE. Equity Bank chief executive James Mwangi did not answer calls or reply to e-mail messages on the sale.
NSE vice-chair Bob Karina said the exchange had considered the mass market platforms of Equity and CBA in awarding them trading licences. When the NSE goes for self-listing later this year , Equity is expected to leverage on the large number of account holders to ensure the success of the initial public offering IPO. In a separate interview, investment advisor Andrew Franklin agreed that the award of a brokerage licence to CBA Capital would advance use of M-Shwari platform to link investors to the NSE.
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But Mr Franklin wondered whether there was still much business to be done at the exchange, noting that international investors had declined and there are still limited new share offerings. CMA data shows that net cash flows from foreign investors dipped to Sh2.
There are 62 companies listed on the NSE. A source said the admission of new players to the bourse was intended to rid the exchange of the image of a closed shop that is in the hands of a cartel.
The goal is to retain the trading rights with brokers but allow other owners to come on board. The brokers have agreed to reserve a Head of CBA Capital Kathure Githinji-Nyamu did not respond to our request for a comment. Commercial Bank of Africa is associated with the family of President Uhuru Kenyatta. Economy News Corporate Lifestyle Opinion Markets Menu.
Francis Thuo is the broker that collapsed under the weight of illiquidity in and has recently fought protracted legal battles with the NSE to retain the seat at the bourse it has now sold to Equity Bank. Also Read News Treasury faces huge pension load in July News Fintechs offer cheapest UK-Kenya diaspora cash Markets Crown to buy-back shares through CMA.
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The entry of CBA Capital brings to 23 the number of trading participants at the bourse. Economy News Corporate Lifestyle Opinion Markets. Daily Nation Daily Monitor Mwananchi Digital Editions Nation Media Group About us Contact us Help Privacy Policy Terms.