Access Kenya summary
Individual applicants: who applied for the minimum 5,000 shares get 900 shares, while those who applied for 25,000 get 4,000.
Institutional investors: that applied for the minimum 100,000 get full allocation, while those that applied for 1 million get about ½ that .
Serena expands to South Africa
Serena shareholders will this month be asked to approve creation of a South African subsidiary company
CMA reforms planned
The Capital Markets Authority has commissioned a consultancy to modernize & improve its operations by strengthening its legal and regulatory framework. Part 1 of the study will have the consultants evaluate the capital markets and central depositories acts, look at secondary market malpractices & sanctions, cross border listings & trading, methods of dispute resolution among others. In Part II, the consultants will come up with revised regulations that, based on the weaknesses identified in part 1, ensure that Kenya investor laws & regulations adhere to international best practices. This is part of the FLSTAP reform program of the Ministry of Finance and consulting firms can apply by June 13.