KenolKobil shares have been suspended from trading at the Nairobi Securities exchange for the next 12 days. The energy sector operator could not reveal the exact number of shares sold as at close of the offer. Sources close the Star said on Monday that Rubis may only manage a majority stake in KenolKobil as opposed to a takeover. Capital Markets Authority, flagged suspicious trading in KenolKobil shares moments after Rubis announced its takeover plans. Currently, Rubis owns a 25 per cent stake in KenolKobil or about 367,793,124 shares.

Source: The Star February 21, 2019 16:30 UTC