Safaricom IPO: Day 2

Apply online: For Safaricom shares, check out the Official IPO site from Citi

Bears bleed
NSE Bears: For the second day of the Safaricom IPO era, only 3 NSE shares rise, same as on Friday, while the rest drop or are flat.
Farewell: To Bear Stearns sold for $2 a share, down from $170 a year ago and 7% of what it was worth on Friday.

Vultures circle:
Beware of loans for shares
– Equity Bank offering up to 80% finance for the Safaricom IPO
Fanikisha account from Transnational Bank offering 70% finance towards the IPO

edit – We’ve been Punk’d!
Corporate blog: A big salute to Equity for breaking another milestone – presenting the first official bank blog – here’s the Equity Bank Blog. a WIP, but keep it up, stay strong, relevant, and up-to-date
Thanks JP for looking out

9 thoughts on “Safaricom IPO: Day 2

  1. Anonymous


    Safaricom IPO should provide an option for payment AFTER allocation if someone provides a bank guarantee.

    This will cut down refund processing costs and minimize potential impact on the Financial market (e.g. liquidity crunch in banking sector and wild currency swings).

    Central Bank of Kenya should be at the forefront lobbying for this important issue!

    Additionaly, Retail investors should not all be lumped together. What about the High Net worth Investors? People like Chris Kirubi should be given incentive to participate (i.e. without worrying that funds will be held idle if there is a massive oversubscription of the IPO).

  2. adam cartwright

    sadly….. no settlement after allotment arrangement for retail…. in kenya re some poor chap invested 10 million in retail… he was alloted just voer 400 shares… yes and a refund of 9 millon plus after 5 months.

  3. Anonymous

    yeah – doesn’t look like an official blog:

    domain: EQUITY.CO.KE
    ownerid: KE-WAAS1-KENIC
    responsible: GEORGE LWANDE
    address: THETA LANE OFF LENANA ROAD, 8925,
    address: 00100 – NAIROBI – KE
    country: KE

  4. bankelele

    Anon: only for big investors i think, retail are pre-paid

    adam cartwright: I remember that, the big investor was with Kengen

    jp: thanks for eagle eye tip

  5. DMX

    Hi there banks

    With the NSe going south just because retail investors are cashing out in readiness for the Safaricom IPO, What would be good picks for someone looking for bragains.

    I am thinking of ARM, Centum, EA Cables…….dare I say KQ.

    Would appreciate everyones thoughts on this.

  6. coldtusker

    I figured I’d blog on the SafCon OFS vis-a-vis the other shares. IMHO there will be a 200% over-subscription after including the foreign buyers.

    If KenGen could have raised Kshs 27bn… SafCon can do KShs 100bn… with all the hype, EA exposure & foreign participation.

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