NSE 25 rises 1.02% as Family Bank targets June 23 listing

The NSE 25 rose 1.02% to 5,813.59 on June 15, holding firm despite KSh10 billion of foreign selling flagged by Sacco Review and an earlier rally reported by Soko Directory. Family Bank received regulatory approval to list on the Nairobi Securities Exchange on June 23, after 42 years of growth and a five-year wait, according to The Kenyan Wallstreet, Bizna Kenya and Business Insider Africa. BAT Kenya declared a record KSh60 final dividend, described as its highest-ever payout, while streamlinefeed.co.ke said the announcement came amid pressure from illicit trade. Car and General's share-price rally retreated on profit-taking, The Kenyan Wallstreet reported, while the NSE said on June 15 it launched a banking sector index and admitted Fintrust Securities as an authorized dealer in fixed income.