The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
51. Delisting of special purpose acquisition companies for failure to complete business combinations
51. Delisting of special purpose acquisition companies for failure to complete business combinations
The Authority shall determine whether the continued listing of the resulting issuer after completion of the business combination will be in the best interests of the Authority, securities exchange and public, and may suspend, direct the commencement of the liquidation distribution and delist the issuer’s securities before the completion of the business combination.Source: Kenya Law