Hundreds if Kenyan investors who had bought shares of UK company Atlas African Industries are in agony after the company allegedly “went missing”.
Nairobi Securities Exchange (NSE) and the London Stock Exchange suspended the company’s shares from trading leaving only their website as the only means investors could tracking performance of the firm. However, the website has now gone down leaving Kenyans in the dark.
The firm had a controversial exit from Kenya in 2015, relocating to Ethiopia.
The Capital Markets Authority (CMA) has said it would investigate the company over the information blackout. The authority is tasked to protect those who put money in public listed companies.
“That is something we will be engaging the company on,” said CMA chief executive Paul Muthaura. The Business Daily could not immediately confirm the number of Kenyan investors still holding Atlas’ shares.
Atlas, however, has denied leaving it’s investors in the dark stating that their website going offline is because of a technical issue.
“We have informed them (Atlas) and they are fixing that. It is just an issue with the domain and we will let you know as soon as they are back on,” said an official at Burbidge Capital.
Burbidge Capital, which acts as a key link to the company, did not give timelines for when the site would be back up.