Kengen
So the government has pulled a fast one on us and decided to pause the kengen secondary offer, citing the non-reflectiveness of the current price on the real share value, and resulting in a maximum share appreciation over today’s trading to Kshs. 25.50. Demand was crazy against almost zero supply. If the government was looking to placing a higher price on the additional 400 mn. shares, it most definitely will get that, with the price looking like it will shoot up to settle above the Kshs. 30s level.
Access
Access looks to be slowly picking with the trickle of clients increasing gradually with each day at brokerage houses. Of Course no queues have been seen as yet, and none my be seen as this offer may not pull large crowds with the high cut-off and many questions in investors heads regarding the future prospects and the possible risks.
Kenya Re
Kenya re looks hard on Access hills with the planned IPO. Though dates have not yet been communicated, we have already started seeing a number of advertisements on all media modes as though to soften investors heart, quite characteristic of an up-coming IPO.
Safaricom
Now only a date and a price separate us from one of the largest IPO in Kenya over. The decision on the markets has been made, and the only fear now is the possible price and the shares that will be availed to Kenyans considering that we are looking at one very small NSE and a very large LSE.
I guess Kenyans have quite some chewing to do, but that will do well to keep them off the political arena after Mag gen Hussein Ali took a stand to rid us off all the fun and intrigues characteristic of an election year.
