CMA reveals phone chats in Kenol insider trading probe

Stock market trader Aly-Khan Satchu. FILE PHOTO | NMG

What you need to know:

  • CMA suspects that stock market trader Aly-Khan Satchu recommended to Kestrel unsolicited clients who later purchased huge quantities of KenolKobil shares based on the takeover information that was not in the public domain.
  • The CMA suspects the 66.8 million suspect shares worth Sh948.5 million traded between October 15 and October 23 were based on non-public information on the takeover.
  • Kenolkobil traded 291,900 shares in the week preceding October 15, reflecting the share buying frenzy.

Investigators looking into suspected insider trading in KenolKobil shares have established that stock market trader Aly-Khan Satchu and the CEO of stock brokerage Kestrel Capital were in communication ahead of the oil marketer's Sh35 billion takeover announcement.

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