Kenya: Safaricom shares to be available online.

Investors planning to buy Safaricom shares through the initial public offer can apply online come the 28 of this march when the offer opens.

Dyer and Blair joint MD Mohammed Hassan says the use of Internet will minimize the long queues witnessed in the previous IPO’s.

The 28th of this month the much-awaited Safaricom initial public offer priced at five shillings per share will kick off.

Unlike the previous IPO’s the lead transaction advisor Dyer and Blair says long queues during the Safaricom IPO will not be witnessed as investors who can access internet can apply online by opening a website this will be the fist time that online application and sale of shares will be in use.
This being the biggest IPO ever witnessed in East and central Africa the government is floating 10 billion shares and expects to raise 50 billion shillings.

65 percent of the shares have been allocated to the domestic pool while 35% will be allocated the international investors.

The government had planned to offload its 25 percent shareholding end last year but the sale was interrupted by controversies, a court case and electioneering period.

Members of the public have varying opinion on the IPO