Nairobi, Dec. 4 -- HF Group is set to issue 94.27 million shares to be granted to employees under its employee share ownership plan (Esop) that allows them to get up to five percent stake in the firm.

The lender said on Thursday the shares will be issued and listed on the Nairobi Securities Exchange (NSE) following the approval from the Capital Markets Authority (CMA) on November 27 this year.

The new scheme will replace the current employees' share scheme dated July 2008. HF received approval from shareholders to set up this new Esop during the annual general meeting (AGM) held in May this year and has been awaiting CMA nod.

"The shares will be allotted to the Esop under the company's incentive programme and in accordance with the Eso...