Sameer Africa Jumps to 2011 High on Stake Bets: Nairobi Mover
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Sameer Africa Ltd., a Kenyan manufacturer of tires, soared to the highest level since May 2011 on bets the company’s largest shareholder will sell a stake acquired from Bridgestone Corp. to another strategic investor.
The shares surged 6.2 percent to 6 shillings by the close in the capital, Nairobi. About 82,000 securities were bought and sold, almost three times three-month average volume.