Long-drawn receiverships spook investors in suspended NSE stocks

The stocks of Mumias Sugar, ARM Cement, and Deacons East Africa have been suspended for nearly eight years at the Nairobi Securities Exchange, prompting investors to seek answers from the capital markets regulator. A shareholder of Mumias has filed a petition for information regarding the ongoing suspension of the stock and the company's compliance with regulations. Mumias was suspended in September 2019 after being placed under receivership for defaulting on a debt of Sh12.5 billion.