It seems there are 2 sets of rules in Kenya. One for the politically connected & then the other...
I am pissed that 35% of shares were 'reserved' for foreigners. This has denied "Wanjiku" who contributed mightily to SafCon's huge profits shares while giving them to foreigners - chosen by morgan stanley - who may have vested interests with the government folks. The foreigners get MORE shares than "Wanjiku". The Retail Pool includes ALL East Africans.
Here is another stinker. dyer & blair which does NOT fully comply with the CMA rules is allowed to buy as a QII but other investment banks are not. Of course, we know jimnah mbaru is close to the government.
Is the CMA merely incompetent or is it playing favourites by issuing a 'clarification' 3 days prior to the close of the Safacon IPO?
Yes, Kenya is back to normal.
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2008
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April
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- Disinvestment in Kenya
- Kenya needs to emulate India's dynamism...
- Why is Kenyan labour costly vs Chinese labour?
- GoK spends & naps while Kenyans suffer...
- A Tale of two(2) SafCon Prospectuses
- Zimbabwean Follies... Worth a laugh!
- Is Africa politically regressing?
- KAA needs to be privatized
- More stockbrokers to bite the dust?
- Coldtusker becomes a TRILLIONAIRE...
- Banks on a roll...
- Back to Basics - Economics, Finance and Wealth Cre...
- Ah, the Kenya we know...
- Zim$ at 123,000,000 per US$
- Zim$ drops faster than a rock!
- KQ's fortunes looking up...
- Safaricom IPO(OFS) gets murky.
- Suicide Jumper
- Kenya - Corruption back on track...
- Zimbabwe Billionaire...
- Bloggers pissed off at bloated cabinet...
- Is Mungiki related to PNU?
- List of Cabinet Ministers + my grades!
- 42 Ministers + prez + pm + 2 deputy pms = too many...
- Again - Apple TV is not GTV
- Kenyans sing the Indian National Anthem
- Coldtusker declared a Billionaire
- Tanzanians screwed by Bank of Tanzania!
- sam ' I can't count' kivuitu at it. Again.
- CMA wants to kill of Venture Capital Funds
- The "not so good" happenings in Kenya...
- Lower those brokerage fees!
- India Grows Up...
- bob ' the murderer' mugabe tries populism again...
- KPLC - Change the law!
- Kenya's economy suffers major hit
- Kenyan politicians killing the Golden Goose...
- New Cabinet Lineup...
- Kenya's New Cabinet is neither Lean nor Clean...
- Another pathetic article from Business Daily
- (Politically) Is Zimbabwe another Kenya?
- Kenyan gov't is senile...
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April
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3 comments:
you sound surprised on the d&B issue ...
Not surprised that it happened but not in the brazen manner all this is happening...
D&B bid 0.05 shillings to win the Safaricom job - they have to make their money back somehow.
I-banks have been offering high net worth clients preferential allocations
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