The Kengen IPO has been a tsunami of sorts for the Kenyan financial system. First it soaked up a record amount of cash - dragging down share prices and the stock market in the process as it soaked up liquidity in the market.
Now with subscribers getting at most 5,000 shares each of Kengen stock, over 18 billion shillings will be returned to investors. A recent Indian IPO survey found that 2/3 of investors used their IPO refunds to invest in the stock market.
Ther market has already started rising with smart investors already taking positions in everything and bidding shares up to record highs (ARM up 8, Kenya Airways up 7, KPLC up 6, CFC up 3.5, HFCK up 2.5, Mumias up 6, and KCB up 16 shillings today) in anticipation of selling them once the Kengen refund wave pushes share prices even higher later this month.
1 comment:
I had thought of it and should have wisely bought HFCK instead of going all out for kengen! Guess am learning!!
Thanks for all updates
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