13 thoughts on “Kengen IPO Results

  1. AK

    I freaked out of Kengen when I imagined how hard it would be to get my money back out here in the event of an oversubscription.

    No regrets now but Kudos to all those who managed!

  2. mashatall

    no regrets for me, Kengen was a good buy and the bet was worth it.I pity the big institutional investors though, thats a lot of capital that they put into the IPO.Bankelele, whats the next IPO that in your opinion is a good investment?

  3. bankelele

    AK: Refund should be a straight forward matter either to CDS account or refund cheques to indicated address (though in some other countries, postal workers have stolen refund cheques in the mail)

    mashatall: Not sure who’ll come next, but I’m looking forward to Sarova Hotels. Already people are placing orders for Kengn shares at 30 shillings

  4. The Alpha Quadrant

    For Retail investors, I think Kengen was excellent. However, institutional investors are probably ruing possible lost income elsewhere.

    I think Equity IPO would be good. I haven’t looked very closely at their books though.

    I definately hope that the cheques don’t get stolen, or we’ll have another fiasco..

  5. Anonymous

    Hi,
    Thanks for up to date information. Please keep it coming!!
    (I have started reading your blog before the newspaper business e-page!)

  6. 384 not out

    smae here bankelele! this website is a stir…it’s “gr8 financial noise”…gr8 info..even b4 you see it in the news!

  7. BizKenya

    with a massive oversubscription of about 337%, I see the Ksh18 Billion save for the borrowed loan being channeled at the bourse. Uchumu might get a large chuck of this money since the shares are relatively cheap.
    For Equity Bank and Sarova who plan to list, they have learnt alot.

  8. bankelele

    Alpha Quadrant: Awaiting Equity, their private shares are available at about 70 shillings now. As for Posta, hope all goes well

    Anonymous & 384: Thanks

    BizKenya: Hopefully next IPO will be appropraitely priced & planned for

  9. Kibet

    the IPO has been especially sad for the folks who took up loans and are having cheques sent back to their banks. Am advised that interest originally payable on the total amount borrowed; will still have to be paid notwithstanding the return of substantial portion of the principal.

    Bankelele, is this true?

  10. Befogged

    Kengen was a great lesson to any serious investor – too bad for the institutional investors!

    Bankelele: How far away is Equity IPO?

    In the meantime, how can one get hold of those ‘private shares’?

    Ohh.. BTW, Kudos for the great work…

  11. Anonymous

    institutional investors have no reason to complain about missing out on kengen shares they have always had their way and its about time them professionals went back to the basics of investment risk and return. kengen was supposedly a high return investment (capital gains) but why would anyone ignore the other side of the coin oversubscription (high risk) What a shame. Jimnah Mbaru,as chairman of nse ought to know that siding with institutional investors makes a fool of out of himself he ought to know better than that. My advice stick to your novel profession (law). i thought he learned POLITICS 101 in 2002. Teaching old dogs new tricks is indeed a problem

  12. bankelele

    Kibet: true for most loans & sad for those who borrowed.

    Befogged: Next IPO will likely consider interests of institutional investors. I’d advise you to wait for Equity listing, whenever that is …

  13. rossignol

    This Kengen thing recalled me the first IPO of our german Telekom with the subsequent hype on the stock market, when people bought shares with borrowed funds..
    Is there any plan to bring kenyan shares to an international stock exchange like London or NY?
    Thanks for your interesting posts, bankelele.

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