KQ minority investors trapped as recovery plan takes new twist

KQ minority investors trapped as recovery plan takes new twist

Companies

KQ minority investors trapped as recovery plan takes new twist

Thursday January 06 2022 kq

Kenya Airways planes at the Jomo Kenyatta International Airport on July 31, 2020. PHOTO | SALATON NJAU | NMG

victorjuma_img By VICTOR JUMA
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Summary

  • The company’s share price was first banned from trading in July last year as the government, which owns a controlling 48.9 percent stake, took steps to nationalise it.
  • Retail investors were to be bought out while banks that had converted their loans into shares were to be given State bonds to settle their residual claims.

Minority shareholders of Kenya Airways are trapped in the company whose shares have been suspended from trading for another year, with no clear path to how investors will be able to exit the troubled airline.

The company’s share price was first banned from…

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