At least seven stockbrokers have been cited and penalised for manipulating share prices at the Nairobi Securities Exchange (NSE), causing ordinary investors heavy losses.

The Nation Media Group has maintained its dividend payout at Sh10 per share despite reporting a 9.7 per cent drop in annual profit underlining management’s optimism over the company’s performance this year.

The Treasury has capped the approval fee payable by initial public offering (IPO) firms and corporate bonds at Sh30 million to encourage listing of more securities.

Shoe and leather accessories vendor Nairobi Business Ventures (NBV) is expected to become the first listing in 15 months if it is admitted by the end of this month.