Nairobi, May 13 -- Major shareholders of NCBA Group bought an extra 449,509 shares in the bank for Sh38.8 million before South Africa's Nedbank Group made an offer to acquire a 66 percent stake in the Nairobi Securities Exchange-listed firm.

The shares were purchased at an average price of Sh86.45, placing the investors in a position to book substantial gains from selling to Nedbank.

The trades also allow the unnamed investors to increase their ownership in Nedbank and NCBA, with the ongoing transaction initially structured to allow one to retain 34 percent of his holdings in NCBA and sell the rest for cash and shares of Nedbank.

The South African firm submitted its offer on January 21, 2026 to acquire 1.087 billion shares of NCBA at a...