Shareholders of Bamburi Cement Plc will no longer be able to trade their shares at the Nairobi Securities Exchange (NSE) from Thursday, following the approval of a suspension request by the Capital Markets Authority (CMA).

This comes after Amsons Industries (K) Ltd successfully acquired 96.54 per cent of Bamburi’s issued ordinary shares on December 5, 2024.

Having secured a controlling stake, the firm now seeks to acquire the remaining 3.46 per cent held by minority shareholders through a squeeze-out process, as provided under Regulation 12 of the Capital Markets (Take-Overs and Mergers) Regulations, 2002, and the Companies Act.

“To facilitate the implementation of the Squeeze-Out, Bamburi has received approval from the Capital Markets Authority to suspend trading of its shares pursuant to Regulation 73(2)(d) of the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023,” the company said in a notice.

As a result, trading of Bamburi shares on the NSE will remain suspended until May 9, 2025.

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The company has urged its shareholders and the investing public to take note of this suspension and exercise caution accordingly.

"NOTICE IS HEREBY GIVEN to the shareholders of Bamburi Cement Plc (Bamburi) that following the successful completion of the takeover offer (the Offer) by Amsons Industries (K) Ltd (the Offeror) on 5 December 2024, Amsons acquired 96.54 per cent of the issued ordinary shares in Bamburi," the notice stated.

The move paves the way for Amsons to complete the full acquisition of the cement manufacturer, marking the final phase of its takeover bid.