IPO season is on again and this time its Access Kenya – a leading corporate ISP and telephony company.
Am yet to see the full prospectus, which should be an interesting read to see the trend of share capital and profit adjustment that is alluded to in the abbreviated prospectus published in the paper on Thursday – the day the IPO started.
The company has learnt from the Eveready listing and set out to limit shareholder numbers by setting a minimum investment for retail investors at a moderately high 50,000 shillings ($715).
Industry: The communications sector has so much happening now from – unified licences, the Wananchi ATC deal , Telkom SA/AfOL deal, Telkom Kenya re-engineering itself, EASSY vs. TEAMS cabling, fibre optics everywhere and of course Safaricom at the top of the food chain who have continually reinvested much of their record profits towards infrastructure expansion.
Investments in the sector are not cheap and with technology rapidly evolving, the 400 million shillings that will accrue to the company may not be enough for more than a few years at a company that starts off with a marginal balance sheet.
IPO results will be out in May and shares will be listed in June 2007.
from the daily papers this week
Coca Cola – East & Central Africa business unit: franchise marketing manager, hospitality manager, operations marketing representative, financial services manager financial accountant senior brand manage (2) revenue growth manager commercialization manage (2) strategy development manager, human recourse manager compensation & benefits manager quality improvement manager
Apprenticeships for mechanics at DT Dobie: applicants must be under 22 with good grades in maths, physics, English and apply in handwriting by 11/5 to DT Dobie Training Center p o box 30160-00200
Safaricom: head of customer management, head of retail. Apply to email@example.com.
Soon you can dine in the skies as the Kenyatta International Conference Center has set out to revive its roof top revolving restaurant on the 27th & 28th floors of the building.