In today’s trading at the Nairobi Securities Exchange, we will be closely observing the following share counters:
- KenolKobil – Shares in the petroleum marketer gained for a third day on Friday, closing up 30 percent at KES 15.95 from KES 15.65 on Thursday. Puma Energy, a Swiss-based oil company, has entered into an exclusive agreement with the shareholders of KenolKobil to buy a majority stake in the company that is rumored will offer a higher-than-market price per share. We will observe the counter to see whether the shares will gain further towards their 5-year high of KES 16.40 reached earlier this month due to speculation on the takeover deal.
- Mumias Sugar Company – It has emerged in reports today that Kenya’s biggest sugar manufacturer is looking to secure loans worth 15 billion shillings to finance a Tana River sugar project projected to produce 200,000 metric tonnes of sugar annually that will help reduce Kenya’s sugar production deficit (Business Daily). We will observe the counter in today’s trading to see if this announcement will have any impact on the share which has been on the rise in recent months, hitting a one-year high earlier this month. The share gained 0.15 percent during Friday’s trading to close at KES 6.65 up from KES 6.50 on Thursday.
- AccessKenya Group – News that the internet service company has opened new offices in Kisumu (Business Daily) could affect the share which peaked at KES 5.48 last month but now appears to be going through a downward trend, losing on four out of five days of trading last week. He share closed Friday’s trading down 1.05 percent to KES 4.70 from KES 4.75 on Thursday.