Nairobi, Nov. 4 -- Sanlam Allianz Holdings Kenya's top shareholder faces a compulsory stake sale to East African investors after the allotment of previously deferred rights issue shares pushed its ownership beyond the allowed limit.

The insurer's parent, Sanlam Allianz Africa Proprietary Limited (SAZ), will be required to sell at least 30.95 million shares, equivalent to 4.81 percent of the new share capital, by September 28, 2027, to comply with local ownership requirements under the Insurance Act.

Published by HT Digital Content Services with permission from Business Daily....