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Article: Massive response to Kenya Airways shares offer.
- Article from:
- African Business
- Article date:
- May 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The flotation of Kenya Airways shares appears to have caught the public imagination to such an extent that the Nairobi Stock Exchange is in danger of being overwhelmed by new business.
March saw the launch of the big gest share issue in the history of the Nairobi Stock Exchange. In a four-week flotation, Kenya's national flag carrier, Kenya Airways, expected to sell off some 235m shares, or 51% of its share capital, at an offer price of Ksh11.25 each.
The privatisation will reduce the Kenyan Government's stake in the airline to just 23%. In December last year, a 26% shareholding in Kenya Airways was sold to the giant Dutch airline KLM. In the current share ...