Kenya's Safaricom-nomics What Impact Awaits NSE
Could a successful IPO increase Market Cap to 1.2Tr Shillings by next years 1st Quarter?
The NSE vice-chari said the shares should be sold at a premium so that the government can get as much revenue as possible from the sale. It is thought that the IPO could raised as much as Sh75 billion( 1.2b$) if 15 billion shares are sold or Sh60 billion if there are fewer shares.
Mr Wangunyu Nairobi Stock Exchange vice chair said at least 80 per cent of the shares should be reserved for the locals and a provision set that should the local demand increase, that this ceiling would be raised.
Mr Wangunyu said that at least 80 per cent of the shares on offer should go to local investors and be increased in the event that demand is higher, meaning foreign investors would not be assured of any stake.
If such were to happen, it would deny the global coordinator and book runner – Morgan Stanley International Plc – a chance to earn handsome commissions. For the global firm, the commissions are key to the transaction because it - with Dyer & Blair - bid five cents to do the transaction advisory services job.
Your Contributions..
Could a successful IPO increase Market Cap to 1.2Tr Shillings by next years 1st Quarter?
The NSE vice-chari said the shares should be sold at a premium so that the government can get as much revenue as possible from the sale. It is thought that the IPO could raised as much as Sh75 billion( 1.2b$) if 15 billion shares are sold or Sh60 billion if there are fewer shares.
Mr Wangunyu Nairobi Stock Exchange vice chair said at least 80 per cent of the shares should be reserved for the locals and a provision set that should the local demand increase, that this ceiling would be raised.
Mr Wangunyu said that at least 80 per cent of the shares on offer should go to local investors and be increased in the event that demand is higher, meaning foreign investors would not be assured of any stake.
If such were to happen, it would deny the global coordinator and book runner – Morgan Stanley International Plc – a chance to earn handsome commissions. For the global firm, the commissions are key to the transaction because it - with Dyer & Blair - bid five cents to do the transaction advisory services job.
Your Contributions..