Companies to start trading in Global Depository Receipts in Kenya
Kenyan firms can now sell shares in other countries without cross-listing after the the Capital Markets Authority (CMA) approved global depository receipts (GDRs) rules.
1M | 3M | YTD | 1Y | 2Y |
+5.58% | +21.84% | +22.79% | +14.82% | -11.87% |
Value Traded (Mln KES) 366.59 |
Volume 15,313,300 |
Transactions - |
Market Cap. (Bln KES) 1,682.42 |
Kenyan firms can now sell shares in other countries without cross-listing after the the Capital Markets Authority (CMA) approved global depository receipts (GDRs) rules.
Moody's Investors Service (Moody's) has assigned first-time B1/Not Prime global local-currency deposit ratings to Equity Bank Kenya Limited (Equity Bank) and the Co-operative Bank of Kenya Limited (Co-op Bank). Moody's has also assigned both banks Counterparty Risk (CR) Assessments of Ba3(cr)/Not Prime(cr), global foreign-currency deposit ratings of B2/Not Prime and b1 baseline credit assessments (BCAs) and Adjusted BCAs. On the Kenyan national scale, Moody's has assigned deposit ratings of Aa1.ke/KE-1 to Equity Bank and Aa2.ke/KE-1 to Co-op Bank. All long-term global scale deposit ratings carry a stable outlook.
Telecoms operator Safaricom (NSE: SCOM) has appointed KCB Group (NSE: KCB) as a trust account holder for its mobile financial service M-Pesa in a deal which will see the lender benefit from a pool of cheaper deposits.
Market capitalisation at the Nairobi Securities Exchange has grown by Sh197 billion in the past four weeks, beefed up by gains by Safaricom stock that has in the past week touched an all-time trading high of Sh24.