Shares of East African Breweries Limited (EABL), Kenya’s largest beer producer, surged to their highest level in nearly a decade on Thursday, according to a BusinessDay analysis.
The rally follows Diageo’s announcement yesterday that it will sell its 65 percent stake in EABL to Japan’s Asahi Group Holdings in a landmark transaction that reshapes ownership of East Africa’s largest brewing group.
Real-time trading data from the African Exchange shows that EABL shares on the Nairobi Securities Exchange (NSE) rose by 19.3 percent to KES 299.7 ($2.0) on Thursday from KES 251.3 ($1.7) the previous session.