It is Monday, that day of the week we all love to hate. One of my friends says that it should be scrapped and we start the week on Tuesday. But Tuesday would also be the
ew Monday and we will hate it even further. Remember how you feel on the Tuesday after that long Easter Monday wkd? That is how you would feel if the day started on Tuesday.
You can tell from my intro that I am also having a slow day. Have you tried pouring Thick yoghurt to a container? Thats how slow my output is. And no, the yoghurt you buy from the estate milk shop doesn’t qualify as thick.
Where was I again? Yes, the British American IPO. Looks like it is only me who is on a slow lane. Kenyans are moving as fast to grab the 650 million shares on offer by the British American IPO. Reports and figures from the Nairobi Stock show that many retail investors are selling other counters to invest in the IPO.
All Nairobi Stock Exchange indicators fell to a 20 month low. The NSE 20 share index fell by more than 3% as almost all share prices fell. For those who watch news up to the 15th minute, the NSE 20 share index is a measure of all major blue chip stocks and tracks how they performed. Ok , blue chip stocks are shares that due to their numbers, trading and even price heavily influence trading at the NSE. And for your sake learn to watch business news, they are less depressing than politics.
Who is driving the price increase? Me and you. Yes, the retail investors who want to get a piece of the 30% allocated in the offer. Retail investors have been allocated 195 million shares. But remember retail investors are all investors in east Africa. Yes, Kenyans, Ugandans, Tanzanians, Rwandese and Burundians will be treated as retail investors. And remember if you are an individual life policy holder, you can qualify for the 3% allocated to such holders.
My point? Avoid the last minute hurry and dash for your shares now. You have two and a half week to go! See other allocations below:
Employees, agents and individual life policy holders- 3%
East African Retail investors-30%
Qualified institution Investors-37%
Foreign investors- 30%