Investors set for handsome reward in Safaricom trading
Written by Geoffrey Irungu. May 8, 2008: Safaricom has so far attracted Sh191 billion from both local and foreign investors, surpassing the Treasury’s target of Sh50 billion by nearly four times and making it Sub-Saharan Africa’s biggest initial public offering.
The money counted so far represents 382 per cent subscription, as foreign investors put in a premium of 50 cents above the price set for domestic investors of Sh5.
The international price of Sh5.50, is expected to be the lowest price that will be quoted by those seeking to buy the share at the secondary market. Initial indications were that the international pool was receiving bids at between Sh6 and Sh6.50 per share.
http://www.bdafrica.com
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