NSE To Float Additional 387k Shares From Employee Share Plan

 

By Kepha Muiruri

The Nairobi Securities Exchange (NSE) board has approved the issuance of 387,401 shares to its Employee Share Ownership Plan (ESPO) Unit Trust.

The nod which will also see the allotment of the units to eligible employees is a continuation of the NSE ESOP Scheme which was approved in March 2019.

An employee share ownership plan (ESOP) is an employee benefit plan that gives workers ownership interest in the company in the form of shares of stock.

The plan represents additional gains for employees beyond compensation through salaries and allowances.

Last year, the NSE issued 503,529 ordinary shares in March through ESOP at a market price of Ksh.6.77 per share.

The additional shares issuance raised the NSE’s issued share capital by Ksh.2 million in the year ended December 31, 2021.

The NSE has a total of 260,004.320 issued shares as of last year with its top 20 shareholders holding a 22.34 per cent stake in the trading firm.

The NSE is a leading securities exchange on the continent which provides an avenue for raising capital through a multi-asset class trading platform including equities, bonds, Exchange Traded Funds (ETFs) and Real Estate Investment Trusts (REITs).