Shares of NCBA Group hit an all-time high of Sh75.25 on Tuesday on news of its potential acquisition by Africa’s largest lender, Standard Bank Group, in a deal that could dramatically alter the structure and ownership of Kenya’s banking sector.
The lender’s share gained 8.27 percent from Sh69.50, closing the day as the second top gainer at the Nairobi Securities Exchange (NSE), as investors factored in the potential deal.