Kenya plans a special trading platform for troubled listed firms as it emerges that immediate delisting of such firms could create a crisis of confidence in the capital markets and send the wrong signal to potential investors.
The EastAfrican has learnt that the Capital Markets Authority has proposed an amendment to the Nairobi Securities Exchange listing and trading rules with a plan to introduce a Recovery Board where financially distressed firms would be rehabilitated for two to three years to help them get back to even footing.
