This archive report was first published on 15 July 2020.
On Tuesday, the Nairobi Securities Exchange (NSE) stock plummeted to an all-time low of KSh 6.50, with a staggering 122,300 shares traded.
As a result, the NSE share price shed off 8.33% to close at KSh 6.60, down from Monday's close of KSh 7.20.
Over the past month, the NSE stock has depreciated by 15.60%, with a total of 259.5 million shares listed, representing a market capitalization of KSh 1.71 Billion.
According to the NSE's audited results for the year ended 31st December 2019, the company's net earnings dropped by 58% to KSh 80.1 million, compared to KSh 190.7 million in 2018.
The decline in earnings was attributed to a 9% decrease in revenues, resulting from a 12% decline in equity trading turnover.
Notably, the NSE has increased its stake in Central Depository & Settlement Corporation Limited to 40.5%, following the acquisition of 88.8% in the Association of Kenya Stockbrokers (AKS) Nominees Limited, which holds an 18% stake in CDSC.
Additionally, the bourse has appointed Kiprono Kittony as its new chairperson, who aims to increase listings by engaging governments to encourage privatization of government-owned companies.
