The Nairobi Securities Exchange (NSE) has suspended trading of Bamburi Cement Plc shares, effective May 21, 2025, following the acquisition of 96.54% of the company’s issued ordinary shares.
According to the authority, the suspension will remain in force for sixty (60) days, or for any other period that shall be determined.
“The offeror has attained the threshold of acceptances, which entitles them to undertake compulsory acquisition of the remaining shareholders. Trading has been suspended to facilitate finalization of the transfer of shares following the squeeze-out process,” read part of the statement.
The suspension was issued under Regulation 73(2) (b) of the Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023.
Further, NSE has urged shareholders, investors and the general public to take note of the suspension.
Bamburi Cement Shares Suspended
This comes months after trading of Bamburi Cement shares on the Nairobi Securities Exchange was suspended from the close of trading on February 27, 2025, and remained halted until May 9, 2025.
Bamburi Cement PLC had issued a cautionary public announcement to its shareholders and investors two months after global cement giant Amsons Group of Tanzania acquired 96.54% of the company’s shares.
The company announced the suspension while informing its shareholders and investors that it is seeking to initiate the squeeze-out process to acquire the remaining 3.46% of the shares held by shareholders who did not accept the acquisition offer.
Also Read: Tanzanian Tycoon Gives Bamburi Cement Shareholders an Ultimatum
Amsons Group Acquires Bamburi Shares
The announcement followed Holcim’s completion of its divestment in Kenya, having sold its entire 58.6% stake in the company to Amsons Group, generating cash proceeds of over Ksh13 billion from the transaction.
Tanzanian company announced Amsons Group announced on Wednesday, December 4, 2024, that it had received all necessary regulatory approvals to acquire up to 100% of Bamburi Cement’s shares.
The group further assured stakeholders of a seamless transaction, confirming its full preparedness to finalize the deal.
Also Read: Bamburi Cement Makes Major Board Changes After Takeover by Tanzanian Tycoons
Operations
In the fuel Sector, Amsons has fuel depots in several countries, including Tanzania, Mozambique, Zambia, and DRC, with over 150 retail stations in those countries.
The group has steadily diversified and grown its portfolio in the manufacturing sector with a 6,000MT/day cement manufacturing capability, including through the recently acquired Mbeya Cement facility.
In addition, the group has a wheat flour milling plant, a state- of-the-art premix concrete plant, Inland Container Depots (ICDs), Fuel and lubricants, Liquefied Petroleum Gas (LPG), and Transportation fleet across Zambia, Malawi, Mozambique, Democratic Republic of Congo, Burundi and Tanzania.
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