I am disappointed at the gross unfairness of the Stanbic allocations. Kenyans were locked out while Ugandans were heavily favoured.
I propose that in the upcoming IPOs, Kenyans get preferred allocations before any Ugandans are considered. Tanzanians should be barred from Kenyan IPOs.
Why do I take such a stand?
IPOs & new OFS tend to attract lots of Kenyan investors e.g. KenGen, Eveready, etc... so Kenyans should benefit BEFORE foreigners. I am not being xenophobic but the Ugandans did not play fair with Kenyans with Stanbic while the Tanzanians locked out Kenyans from Tanga Cement's IPO.
IPOs esp govt divestiture is at a discount to NAV or market value. Why give away 'free' money to non-Kenyans?
Ug & Tz investors can buy on the secondary market.
Safaricom is coming up... I say CMA needs to address this NOW so that Kenyans benefit first!
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