With all indications showing that a large number of small investors are likely to be locked out of the forthcoming Safaricom sale, the spotlight must turn to Finance minister Amos Kimunya over his timing of this offer that is billed as East Africa’s biggest.....CLICK HERE for the rest of the story
Monday, March 17, 2008
Rush to sell Safaricom raises moral questions
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SAFARICOM IPO AND FEFUND PROBLEMS
Safaricom IPO should provide an option for payment AFTER allocation if someone provides a bank guarantee.
This will cut down refund processing costs and minimize potential impact on the Financial market (e.g. liquidity crunch in banking sector and wild currency swings).
Central Bank of Kenya should be at the forefront lobbying for this important issue!
Additionaly, Retail investors should not all be lumped together. What about the High Net worth Investors? People like Chris Kirubi should be given incentive to participate (i.e. without worrying that funds will be held idle if there is a massive oversubscription of the IPO).
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