(Premium) Story in the Nation about the Cabinet being presented with a paper to approve the sale of 25% of Safaricom to the public.
This is a winning card this election year that will be foremost in the minds of investors and voters. A well managed Safaricom IPO before December could deliver more votes than needless voter expenditure or rhetoric from any leader.
Power shift: Meanwhile Bloomberg reports that – for the first time since WWII more money will be raised from European IPO’s than US ones. Stringent regulations, high costs (6.7% of IPO versus 3.3% for Europe) and the weak US$ to blame as 14 or the 15 biggest recent IPO’s were listed outside the US.
Yummy
Business Daily got this wrong. Again.
Kenyans have peculiar IPO habits.
…and where is all this liquidity coming from?
Safaricom:
Bring it on MJ!
I won’t even bother reading the prospectus. Safcom IPO is big-time speculation material!
I wonder what will happen to the GBP rate if the IPO is offered in that currency? What do you guys think about hedging the Sterling?
Mwalimu wait & see
Maishinski: They all want to make money – some short term, some long term. – and Safaricom/Govt have to balance both. As for sterling, wouldn’t touch it, world is still (weaker) dollar and euro controlled