Monday, June 09, 2008

Safaricom IPO: 47% on 1st day

Safaricom closed at Ksh7.35, just inside my maximum buying range. Because a proportion of our investors are speculators, I expect to be able to buy the stock at prices below Ksh7, although that will depend on the efficiency of my broker/s. Many in this group of investors will panic and try to get the gains before they disappear.

The price also means that the few investors who were able to access their shares have locked down 45% (after charges) of profits for 3 months of work. Thank you to the BBC for doing a positive story on Kenya. It must have choked some guys there. The original story evenshowed that the mighty BBC is not afraid to make monumental gaffes. ButI forgive them because, like many Kenyans, I know we'll be the largest economy in Africa.

Martha Karua is of course my choice for the next president of Kenya. She calls like it is and you know where you can go if you don't like it. And she did on Sunday. The one thing, Kenyans must promise themselves is to ignore politicians (ironic I know given I am quoting one), but what I mean is that they shouldn't be the ones to dictate how Kenyans live, react et al.

2 comments:

Ssembonge said...

If the share price dips below 5 shillings I might eat crow and buy shares at the NSE.

Anything above 5 is not worth my time or effort.

MainaT said...

That would be a good move Ssem though I doubt if it will go below Ksh5.50