IPO Watch: Stanbic Uganda Share Allocation
It’s official. The Stanbic Uganda IPO resulted in a 200% oversubscription. Investors applied for more than $118 million worth of shares, but only $39 million was on offer.
So it appears that there will be many disappointed punters. But by and large they won’t be Ugandan. All but 36 of the 15,488 individual Ugandan share applicants will receive all the shares that they applied for. Their stakes were capped at roughly $80,000.
Foreign investors, on the other hand, will have their IPO stakes capped at 109,500 shares. This equates to $4,255 or Ksh307,850. The 21,000 foreign applicants were allocated 48% of the total shares offered.
It could have been much worse for non-Ugandans. A $4,000 stake is actually heftier than I’d expected. Still, there will be some $60 million worth of foreign currency that will be looking for a new home.
Refunds will begin to be sent out on January 19. Stanbic Uganda shares will begin trading on the Uganda Securities Exchange on January 25, 2006.
www.investinginafrica.net
9 comments:
this information has been replicated verbatim in almost all the 'investor' blogs today. it first apeared in stockskenya.com late yesterday. is there anyone with more information ? or the courtesy to acknowledge the source going forward?
we all would like to know if there are any details but reading plagiarism is not at all entertaining.
Odegle - Primary source is linked to within the post.
Additional info can be found here: http://www.mbea.net/news.details.php?storyId=72
Odegle - You are being unfair since the info Ryan has put out there/quoted is from the MD of Stanbic. I am sure Stanbic wants this news disseminated.
Stockskenya probably used the same source (MD's interview or Stanbic Press Release) or they had inside information.
Furthermore, I checked & Ryan's telling is his own. Of course, he can't (& shouldn't) change the numbers just to be different!
BTW, the Monitor also reported the same information.
We are waiting to hear more about the IPO. Well what price do you think it is going to list?
ok i agree that comment was a little harsh. but that info was all over the space.
has anyone got info on how the debut did? trading should be done by now i guess
Odegle, closing price can be found here:
http://jhabola.blogspot.com/2007/01/stanbic-closes-at-shs-205.html
I think the allocation was more than fair and most (foreign) investors will be happy.
Odegle: Stanbic published the allocation results in the The East African this week
I can believe that there's many people who have a lot of money but they can't give anything to starving people. that's amazing Generic Viagra Buy Viagra
Ways & Works Consulting is an ISO 9001:2015 certified HR Consulting Firm, Manpower Recruitment and Practical Training firm career with an aim to provide value aided service to employers Top hr consulting services india . with an in-depth understanding of their requirements. We are working as a perfect bridge between the employer and employee to fulfil their needs by placing the best suitable at place.
Post a Comment