- Foreigners weren't as mad for Safaricom as Kenyans-perhaps the Jan-March crisis didn't help.
- FFIs didn't think they'd be able to make money in Safaricom if they bid over this price
- As I guessed, this is likely to be the one investor section that just about fully subscribes into IPO. This shouldn't be a big concern because I suspect a chunk of this will probably have been done by Vodafone anyway and 2ndly, I don't think many Kenyans were thrilled at foreigners getting any of Safaricom.
- Morgan Stanley probably did a targeted marketing of the IPO rather than widespread.
- I think its excellent news for those of us who are targeting the secondary market.
Wednesday, May 07, 2008
Safaricom IPO: Foreigners only paid Ksh5.5
Very, very, interesting... What should it tell you as a prospective investor? One of several things
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2 comments:
That's 50 cents less than the 6 shillings that the government thinks Safcom is worth.
They should have floated it at 6 shillings for anyone wanting to buy.
I have a feeling that the fundies/ibanks will sell once it opens hoping to buy later at a lower price.
i think they figured to wait for the secondary market. Also vodafone were not allowed to buy in the IPO
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