I cannot pretend to know but I guess it is mere mass speculation based on the prospects of a boardroom takeover. I would urge caution, as 1. the GoK is involved - we know what that means, and, 2. prospective bidders will likely have a discount on mkt price quite unlike what happens in a hostile takeover!

@guru267 (is your birthday Feb 1967?) that is not fair. By going ex bonus hasn't made NBK junk. Assuming you had 5 shares the cb value would be 53 x 5 = 265. Since you get 2 extra shares, the value of your investment doesn't change, but the value of each share (5 + 2 bonus) becomes 265 / 7 = 37. So the drop to 38 is consistent. I just pity the guys who bought at 49 eb.
However the machination to convert preferential to ordinary will make it junk.

Trading ex bonus today

this "junk" is making many people smile. Bought at 51.00, sold at 59.50. Then bought ex bonus @36.00....still going up up up

@guru, the restructuring is not a done deal, nssf concerns will have to be seriously addressed by g.o.k since screwing the kenyan pensioners is the last thing this govt will want to do..having said that, i bought at 36.00 expecting it to stagnate at that level for some time or head south, had actually left some cash to chase it southwards..i'm also puzzled by its meteoric rise