Govt Upbeat on NSE Performance
Written By:Emmanuel Toili
Posted: Mon, Jan 29, 2007
The government is upbeat on Nairobi Stock Exchange performance.
Finance Minister Amos Kimunya says, the NSE 20 share index has surpassed the NSE share index gaining some 6000 points.
Speaking at the commencement of trading of Mumias Sugar Company shares at the NSE, Kimunya said the government raised over 4.6 billion shillings in the just concluded offer of over 91 million shares.
The government intends to raise 18 billion shillings this fiscal to cover the budget deficit. Government shareholding at the company has reduced to 20 per cent from 38 per cent.
Mumias will commence its proposed 1 to 5 share split. NSE chairman, Jimnah Mbaru said the split will enable the sugar company to attract more liquidity from investors.
He said banks issuing out syndicated loans were hampering the development of the bond market and urged the Capital Markets Authority to act.
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