Friday, February 02, 2007
KENYA’S WANANCHI TO GO FOR IPO
Wananchi’s recent merger with ISPKenya has led it to seek a private placement to help it expand further. The merged company has a 38% market share and the deal has to be cleared with the Monopolies Commission (CHECK). Once the merger has been completed, the company will be seeking an IPO. Subject to a successful completion of the merger, the company will be looking for further acquisitions. In what areas? That would be telling.
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4 comments:
With the African Lakes thing this is one IPO to look forward to.
i wouldnt want to speculate but i wonder whether its still good to do an ipo right now. the market is behaving in a confused way!
what if the business of wananchi right now and where are they aiming? with time will it be posible to sell internet bandwidth?
Access Kenya might get to the market before Wanainchi...
CT, that is true. Wananchi are currently doing a private placement and I don't think being knocked back by Africa Onlines will do their prospects any good.
My frustration with both AccessKenya and Wananchi is that they don't publish financials on their websites.
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