Monday, December 05, 2005
The number of companies listed at the Nairobi Stock Exchange could reduce by one following a notification on December 1, by BOC Gases of its intention to acquire effective control (80%) of Carbacid Investments. BOC already controls 42% of the Carbacid trhough proxies, and will use a novel technique to finance the deal. BOC has reported six-month turnover of 454 million while Carbacid had 134m for the half year. On Friday there was no activity in both BOC and Carbacid shares whichc remained at 160 and 137 respectively.