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Retail investors flock to AccessKenya

AccessKenya Group has ended up with a large number of retail investors — 94.5% of total shares offered during its initial public offer, despite its initial bid to avoid them.

By Philip Ngunjiri

1 Jun 2007

Out of the 27,500 successful investors, 26,000 are retail shareholders. However, the management is happy and terms it a “sensible and manageable register.”

The company had offered 80 million shares at a price of 10 shillings per share. The IPO subscription rate was 363 per cent, raising Ksh2.9 billion ($41.4 million), far above the targeted Ksh800 million ($11.4 million).

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