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Troubled ARM suspended from Nairobi bourse - 5 months ago, 20 Aug 07:45

By: Patrick Alushula

The Capital Markets Authority (CMA) has suspended the shares of Athi River Mining (ARM) Cement #ticker:ARM from trading on the Nairobi bourse after the company was placed under administration on Friday.

According to a public notice issued by Nairobi Securities Exchange (NSE), the shares of the cement-maker, stuck in more than Sh14.4 billion debt, will remain suspended from the bourse for seven working days effective Monday, August 20.

“This is to inform you of the suspension in trading of Athi River Mining Cement Plc shares, following the placement of the company under administration pursuant to Section 534(1) of the Insolvency Act, 2015,” said NSE in a notice.

All shareholders, investors and the general public have been asked to take note of the suspension.

PwC takeover

Muniu Thoiti and George Weru of PricewaterhouseCoopers (PwC) took over the management of the cement maker on Friday, days after embattled CEO Pradeep Paunrana left his executive roles as ...
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