Monday, October 06, 2008

Another IPO

If you don't fancy the bloated Co-OP (Kenya) and TNM (Malawi) IPOs, the ZANACO one in Zambia might suit your purposes. Zambia's economy is benefitting from the current commodity boom, not to mention staedily improving and stable governance.

Brief details:
Application dates: Sept 29th to October 23rd
Price per share: 470 kwachas (around Ksh9.50)
EPS: 38
P/E: 11.75
Minimum application: 1,000 shares
Shares on sale: 229m + 25m for emplyoees = 25.8% of total
Allocation announcement date: Nov 17th
Shares listed on: Nov 17th

Its not the best of Zambian shares on offer perfomance-wise. Zanaco is majority owned by Rababonk (A Dutch bank) and this its major selling point because it now has steady and banking-wise management. Prospectus to follow shortly...

4 comments:

stephen said...

How can Kenyans buy into the ZANACO IPO? Any local broker handling it?

MainaT said...

Very easily. Email me and I'll forward you the details.
I am not sure if any of the brokers are doing it.

Ssembonge said...

I read somewhere that there was only no IPO in the US in month of September for the first time since 2001.

MainaT said...

Ssem, I am surprised there is even going on now in the US.
M&A is down, nobody is borrowing or trying to issue any long-term paper. Further bad news for the ib sector.