British American IPO, more information

Taking their interaction with bloggers and their online marketing further I received an email recently from a British American representative.

It outlined that the Capital Markets Authority (“CMA”) has approved  their application for approval of the offer for  sale of  six hundred and fifty million (650,000,000)  ordinary shares and the listing of two billion one hundred and fifty million (2,150,000,000) ordinary shares of British- American Investments Company (Kenya)  Limited on the Main Investment Market Segment of the Nairobi Stock Exchange (NSE). This public offer  which represents 30% of the shares of the company  marks a major milestone in the long history of the Company in Kenya.

BA is seeking to raise up to five billion eight hundred and fifty million (5,850,000,000) shillings of  new capital to drive our growth strategy which started with our expansion into Uganda last year and which will see us spread our wings to the rest of the East African Community, to include, Tanzania, Rwanda and South Sudan. BA plans to invest in a much broader scale in property development, including both commercial office blocks,  and residential housing, to build on past property development successes.

The shares will be offered at Ksh 9 per Offer Share with a minimum of 2000 shares for individual investors.  According to BA the Group is already over 60% owned by Kenyan investors, the IPO aims at diversifying  shareholding.

The offer  will open on 12th July 2011 and close on 5th August 2011.

Anybody with an analysis to offer on BA’s move? As well as any experiences with them? Feel free to comment.


Muthoni Maingi16 Posts

Muthoni is a Brand Strategist and Director at Deviate, a company that works with over 15 of the region's most forward thinking brands. She is passionate about growing SME's, Internet Technology and mentoring young women. She also owns and writes for Tamu Tamu and Bridal Kenya and is an active blogger on a wide range of topics such as business, food and technology and has written for CIO Kenya, Yummy News, Affrinovator and Kachwanya. Before starting her own company she was a Production Coordinator and TV Host for the NTV show Urban Hype, an Account Executive at Habari, and a Brand Strategist at Creative Edge.


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