What’s the place of minority shareholders, investing public in big-ticket share deals?
Safaricom Group Chief Finance Officer Dilip Pal witnesses the first trade of the Safaricom green bond on the NSE. Kenya is selling 15 percent stake in the telco to vodacom.
The Nairobi Securities Exchange (NSE) and market analysts are reading from different scripts on whether the investing public and minority shareholders of listed companies should be allowed to participate in big-ticket share sale deals, engineered by anchor shareholders of blue-chip companies seeking to reduce their stakes or entirely liquidate their investments.
This is after Kenya opted to sell 15 percent of its stake in Safaricom Plc to its core shareholder, South Africa’s Vodacom Group, rather than offload the shares through a public offer that would have given the local investors an opportunity to increase their shareholding in the region’s most profitable telco from the current 25 percent.
