Listing rules for Real Estate Investment Trusts (REITs) which will restrict minimum parcel sizes to be traded at the Nairobi Securities Exchange are in the pipeline. The REITs Regulations 2012 state that REITs can be structured as closed-ended funds and listed on a restricted exchange, or as open-ended funds. “We are jointly working with the Nairobi Securities Exchange on the requisite listing rules,” the Capital Markets Authority said in response to a query. The rules say trading of listed REITs (both development and income) will be limited to a restricted minimum parcel size of Sh1 million...
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