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Wednesday, June 11, 2008

Safari-Con debuts

Well....

Safaricom seems to settled at 7/- for now... For additional details go to Bankelele.blogspot.com

So the 'foreigners' got 2bn shares @ a mere 5.50 thus giving them KShs 3bn for doing nothing!

Whereas the 'retail' Kenyan's money was tied up for 7 weeks, the 'foreigners' had to pay on 4 June 2008... essentially paying almost zero in interest.

The 'foreigners' - less than 100 even though they got 2,000,000,000 shares... that is 20,000,000 apiece - and who are thought to be the faceless corrupt in the current government.

As someone asked... "Whose goat have you stolen"?

Who suffered? The poor Kenyan who got a mere 420 shares!!!! And the GoK who lost KSh 3bn by under-pricing the shares.

4 comments:

fimbo said...

Same game different players all over the world

Chipongwe said...

This sort of populist statement is the sort of thing that you castigate politicians for - its plain wrong - there are many interests to balance - a more intellectual approach would be appreciated from you....

pesa tu said...

I don't understand your gripe with Safaricom and the IPO.Do post something on why u r so mad about it.

coldtusker said...

Chipongwe: Nothing populist. Pure theft. This is a follow-up on the earlier blog entry. The poor mwananchi paid more than 5.50 (after financing and fees) than the 'foreigners' who turned out to be immediate sellers! Fishy... stinky... and theft!

Pesa Tu: What do you want me to do? I do blog about it. That is the extent of what I can do. Highlight the theft & injustices.

Do you remember the guy who blew the whistle on goldenberg? Dead.