- Banks versus Brokers Dyer & Blair have set up an IPO center on Loita St. that is open 7 days a week (weekdays 7am to 7pm). Brokers have to fight tooth and nail with commercial banks to get their IPO commissions since the banks have a much larger branch presence to earn a 1% commission on each application. That’s why stockbrokers can be found in super markets, cyber café’s and bank halls (latest is Drummond and Suntra brokers at Consolidated Bank) selling IPO’s to earn their 1.5% commissions. You are sometimes scared of making contact with a sales agent when you walk past a bank tent or broker desk in a movie hallway with a Safaricom brochures and forms waiting.
- What’s worse than taking an IPO loan? Paying for shares using a Barclays card (or debit card)
- Regional: the first confirmation of an over-subscription comes the East African with a report that NSSF Uganda will get 1/3 of the shares tehy applied for – or about $11 million worth (out of $34 million). [1.3% of the shares on offer]
- CFC takes the IPO to Rwanda via Fina Bank
- International : Wambia Capital offers US institutional investors and high net-worth individuals
- Boardroom dealing: Former LSK Chairman Former LSK chair makes a damning accusationabout Mobitelea and its cabinet allies.