Shareholders follow proceedings during Marshalls East Africa Annual General Meeting held at Kampala Road Branch in Nairobi’s Industrial Area. PHOTO | FILE
Kenya’s Capital Markets Authority move to provide a lifeline to distressed companies listed on the Nairobi Securities Exchange (NSE) through a recovery board has faced opposition from quoted firms. The EastAfrican has learnt that listed firms are uncomfortable with the proposed trading platform for ailing firms, saying it has serious repercussions on the perception of investors about firms pushed onto this board.
In 2018, CMA proposed the creation of a recovery board where financially distressed firms on the NSE would be rehabilitated for two to three years to help them get back to financial stability.
