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...

Another Safaricom-type of IPO Fiasco?

1.2bn shares @2kwacha does look like a catch-all approach similar to that adopted for Safcom. Hope the Malawians don't suffer the same fate with TNM's IPO. At least its a much shorter period.

Anyway here is the prospectus.