Kengen has now invited tenders for the advertising and public relations services (deadline September 8) for its IPO. The transaction and legal advisors they selected earlier are now hard at work towards the IPO which is expected early next year.
While Equity Bank management have told their staff that their IPO will be in October 2005, they have not publicly engaged any IPO advisory firms and partners.
Other firms which have expressed interest are not expected to be ready for at least another year.
Absa Bank of South Africa is expected to buy Barclays Kenya and 10 other Barclays Africa operations within the next two years following the successful conclusion of Barclays return to South Africa through a majority buyout of Absa. to buy Barclays Kenya
Pan African Insurance
South African underwriter, Sanlam has offered to purchase Africa Life (SA) which owns 50% Pan Africa Life Assurance Company which is listed at the NSE
The Capital Markets Authority has approved an Uchumi Rights issue, to take place later this year which is expected to raise 1.2 billion shillings for the supermarket chain. The Uchumi shares register will close next Monday (August 22) and only shareholders of record will be allotted rights to subscribe to new ordinary shares.
“Never borrow to play the market” is advice that is given the world. Yet Co-operative Bank is marketing a personal loan geared towards enabling people to buy shares at the Nairobi Stock Exchange. Terms are no security required for amounts below 500,000 and the maximum loan term is 36 months at competitive interest rates.
Sterling Securities has been re-admitted as a broker at the NSE. The company has first had its license first suspended in 1999 following operational and managerial constraints
The NSE has set-up a daily price list, available at the end of each trading day at its web site click on the picture. It’s an excel spreadsheet with a major error - that can give you 27 copies if you choose to print it.