NCBA to suspend shares trading as Nedbank completes acquisition
South African banking giant, Nedbank Group has completed the acquisition of 66% controlling stake in Kenya’s NCBA Group Plc. The transaction which has now become unconditional following acceptance by NCBA shareholders to sell 1,087,362,891 of ordinary shares valued at an estimated Ksh 110 billion. “NCBA has built a strong East African brand anchored on customer […] The post NCBA to suspend shares…
Nedbank Group has finalized acquiring a 66% controlling stake in Kenya's NCBA Group Plc. The transaction, now unconditional, involved NCBA shareholders selling 1,087,362,891 ordinary shares valued at approximately Ksh 110 billion. John Gachora, NCBA Group's Managing Director, expressed optimism about expanding across East Africa with support from Nedbank.
Following regulatory approvals in both countries, NCBA shares will be suspended from trading on the Nairobi Securities Exchange (NSE) starting October 21, resuming on November 2, 2026 to finalize the Share Register reconciliation. This acquisition solidifies Nedbank's position in East Africa, creating new opportunities for clients and investors while fostering growth across the continent.
Jason Quinn, Chief Executive of Nedbank Group Limited, emphasized the strategic importance of this landmark deal, which will see the remaining 34% of NCBA's issued shares held by the public.
Written by urgent.news from KBC's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
