Safaricom IPO imminent?

13 Mar 2008

Investors are expecting the stock market listing of Safaricom, Kenya’s leading mobile operator, by the end of March. It is expected the share offer will be heavily discounted to encourage take-up of the offer by an expected two million local investors and to try and restore investor confidence in Kenya following the political unrest. Recently released figures from the Communications Commission of Kenya (CCK) show that by December last year 9.2 million of the country’s 11.4 million mobile subscribers were signed up with Safaricom.

Kenya, Safaricom