Less than two months after the landmark listing of Kenya Electricity Generating Company (KenGen), two more companies, Scangroup and Equity Bank, have debuted on the Nairobi Stock Exchange (NSE).
The KenGen IPO, originally scheduled for late last year, but which finally took place in June, was more than three times oversubscribed, raising more than $100 million for the government.
The sale of a 30% stake in the company was Kenya’s largest IPO to date. The previous largest was an approximately $30 million-equivalent listing in 1996 of Kenya Airways.
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