NSE temporarily halts trading in Absa Bank shares
The Nairobi Securities Exchange (NSE) temporarily halted trading in Absa Bank Kenya Plc shares on Wednesday, August 19, 2026, to facilitate the orderly execution and settlement of a major block transaction. In a public notice issued via social media on Wednesday, August 19, 2026, the NSE said trading in Absa shares would be suspended from […]
The Nairobi Securities Exchange (NSE) momentarily suspended trading in Absa Bank Kenya Plc shares on August 19, 2026, to enable the smooth execution and settlement of a significant block transaction. This decision, approved by the Capital Markets Authority (CMA), came into effect from 9:30 am to 11:00 am. Absa Group Limited, the parent company of Absa Bank Kenya, had initiated a tender offer to acquire an additional stake in the Kenyan subsidiary.
The offer, valued at approximately Ksh30.9 billion, aimed to increase Absa Group's ownership of Absa Bank Kenya from 68.5 per cent to 85 per cent. However, only 21 per cent of the shares sought were accepted by Absa Group, with 189.38 million shares purchased from 2,045 shareholders. The temporary halt in trading is expected to provide a controlled environment for the block trade to proceed in compliance with market rules and regulatory requirements.
The incident follows Absa Bank Kenya's strong performance in 2025, with a 10 per cent increase in profit to Ksh22.9 billion and a 23 per cent return on equity.
Written by urgent.news from People Daily Kenya's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
