(Premium) Story in the Nation about the Cabinet being presented with a paper to approve the sale of 25% of Safaricom to the public.
This is a winning card this election year that will be foremost in the minds of investors and voters. A well managed Safaricom IPO before December could deliver more votes than needless voter expenditure or rhetoric from any leader.
Power shift: Meanwhile Bloomberg reports that - for the first time since WWII more money will be raised from European IPO’s than US ones. Stringent regulations, high costs (6.7% of IPO versus 3.3% for Europe) and the weak US$ to blame as 14 or the 15 biggest recent IPO’s were listed outside the US.
4 comments:
Yummy
Business Daily got this wrong. Again.
Kenyans have peculiar IPO habits.
...and where is all this liquidity coming from?
Safaricom:
Bring it on MJ!
I won't even bother reading the prospectus. Safcom IPO is big-time speculation material!
I wonder what will happen to the GBP rate if the IPO is offered in that currency? What do you guys think about hedging the Sterling?
Mwalimu wait & see
Maishinski: They all want to make money - some short term, some long term. - and Safaricom/Govt have to balance both. As for sterling, wouldn't touch it, world is still (weaker) dollar and euro controlled
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