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[2008-08-06] National Oil to raise funds for expansion via share sale Oil exploration regulator National Oil yesterday said it will sell its shares through Nairobi Stock Exchange in the next three years as part of its expansion programme.
The government owned corporation, which has also entered the oil retail business, said listing at NSE will enable it grow its market share by five per cent every year.
National Oil grew its profits to Sh9.1 billion in June 2008 from Sh4.5 billion last year.