From Business Day/Written by KENNEDY SENELWA
Kenya is expected to have the highest number of initial public offerings in East Africa this year.
Kenya’s share of IPOs in sub-Saharan African is projected at about 8 per cent while regional counterparts Uganda, Tanzania and Rwanda will each account for 1 per cent of the total this year.
The East African securities regulatory authorities have set June 2015 as the deadline for harmonisation of capital markets laws in Kenya, Uganda, Tanzania, Rwanda and Burundi.
According to Baker & McKenzie, an international law firm based in London, the number of African companies listing on the bourse could rise by a quarter this year if the firms that plan an IPO go ahead.
The mergers and acquisitions deal specialist said 30 firms are preparing to list this year, from 24 in 2014. The number of IPOs last year rose by a third to the highest level since the global financial crisis, raising over $2 billion.
Read more at Business Day