The Nairobi Securities Exchange (NSE) has downgraded Eveready East Africa Plc from the main market segment to the newly created Small and Medium-sized Enterprises (SME) market and promoted Flame Tree Group Holdings Ltd and Home Africa Ltd, from the defunct Growth Enterprise Market Segment (Gems) to the premier trading platform, in the latest interim market segmentation changes affecting 16 companies.
The changes, which are still subject to approval by the Capital Markets Authority (CMA), follows the scrapping of the mid-cap trading platform Alternative investment market segment (Aims) and the small Gems under the revised Public Offers, Listing and Disclosure Regulations 2023, that came into effect around June 2024 after parliamentary approval.
