In April the Kenyan government offered 30 percent of electricity generating company KENGEN to the public in the biggest Initial Public Offer (IPO) on the Nairobi Stock Exchange ever and the biggest since Kenya Airways a few years ago.
This week the government announced the offer had been oversubscribed almost four times over and there was a lot of heartbreak for big institutional investors. The government put a 6,600 share cap on how much one individual can receive.
On Wednesday the share starts trading on the NSE and speculation is that those who missed there full allocation during the IPO will weigh in heavily to try and snap up as much as possible beforeth share reaches full valuation.
The governmnet was offering shares at Ksh11.90 a share a 20 percent discount on Net Asset Value.
Watch this space!