So much for Kenya’s Kibaki/Odinga rivalry derailing the Africa boom.
Kenya’s Safaricom, the largest ever IPO in sub-Saharan Africa outside South Africa, was poised to come to market at the end of April, as Euromoney was going to press. Early indications are that the deal, which will be listed on the Nairobi Stock Exchange, will be heavily subscribed, with data showing that more than 1.5 million investors have placed orders.
The Kenyan government looks set to comfortably raise $800,000 by selling a 25% stake in the mobile phone company.
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