Kenya is gearing up for the country's largest ever IPO, scheduled for November, when the government plans to sell a 30% stake in Kenya Electricity Generating Company (KenGen).
The sale of the stake should raise about $120 million for the government. "This is a huge public offering for Kenya," says Andre de Simon, executive director of Kenyan investment house Kestrel Capital, which has been appointed co-sponsoring broker for institutional investors on the issue.
Kenya's previous largest IPO was an approximately $30 million-equivalent listing in 1996 of Kenya...
