Scangroup received over 100,000 applications of which 12,800 rejected, leaving 96,000 valid applicants
– Those who applied for 1,000 shares have been allocated 300 shares
– 10,000 get 500
– 100,000 get 1,000
– 1 million get just 3,000 shares
Who applied for up to 10,000 will get full allocations.
Those who applied for up to 15,000 will get a full allocation.
Lesson of the day: apply as an institution if allocation has been pre-determined prior to IPO
Declining money transfers
Fewer people are using Western Union to transfer money. Despite reducing their fees earlier this year, it seems more people are using alternatives and other other methods to get around the still high costs.
Wish of the day
Be like Nepal where protesters have forced the to government to reduce fuel prices. Here, notorious Koinange Street has the highest prices and the fuel stations there are always the first to raise prices, giving an indication of how prices will soon be in the rest of the City. (From dealbreaker)
Funding for Kenyan SME’s
The European Investment Bank (EIB) will contribute US $5 million to the Business Partners International Kenya SME Fund (BPI-K) which invests between USD50,000 (Kshs. 3.75million) and USD500,000 (Kshs. 38m) in small? companies.
– The Economist catches up with Ayisi Makatiani.
– Who is the Aga Khan besides being a major shareholder through his foundation in NMG, Diamond Trust, Jubilee, Serena and numerous other private, educational and charitable initiatives in Kenya?