Investor Choice: December 2010

December is traditionally a slow investment month in Kenya, but not so this year with so many investment offers from a variety of sectors


Bralirwa IPO is ongoing for Rwanda’s largest beer company. Nairobi stockbrokers who are facilitating the cross-border deal include Dyer & Blair, Faida, African Alliance and CFC Stanbic

Deacons set out to raise Kshs 800 million ($10 million) in November. They extended the deadline to early December, and came up slightly short at Kshs 700 million which is still commendable for a low marketed company in a competitive industry with no immediate listing plans

I&M Bank had a private placement to raise about 2.4 billion ($30 million) and is said to be past the mark

– The Kenya Power & Lighting Company – KPLC Rights issue set out to raise almost Kshs 10 billion ($125 million) in a combination share split, tights issue, government shareholding restructuring. It runs till December 22, but for new shareholders deadline is December 15 and is 50% underwritten with Centum and Equity bank.

– A second tranche of the Kshs 12 billion Safaricom bond program which aimed to raise Kshs 4.5 billion ($56 million) closed yesterday, and announcement is to be done today – (PDF)

Airline Investors – away from retail investors we have the rarefied world of institutional investors and buccaneers in the aviation space in Africa

– (Via Flight Africa Blog) Jetlink expanding flights to (Asmara) Eritrea while Fly540 is to soon launch operations in Angola and Ghana
Kenya Airways resumes flights to (Rome) Italy on December 16 which is its fourth European destination
– Recently, Rwanda Air launched flights from Rwanda to Dubai via Mombasa.
Yemenia resuming flights to Kenya.
East African, (who may or may not be in business) are promoting flights from Nairobi to (Hargeisa) Somaliland for $620
– And helicopter leasing is getting popular in Kenya, even at rates of $2,000 per hour.

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