Breaking

Archive

May 1 result
17:13
17:13

Causes and Effects of the MTN Share Sale Shortfall

The shares allocated to the 21,394 new shareholders also include those given as bonuses because, for every 100 shares paid for, the applicant got an extra 10. Close to 900 billion Shillings was expected from the IPO, but the proceeds from the sale amounted to 535.939 billion Shillings, meaning that at the end of the IPO, the shares were under-subscribed by more than 35 per cent.
May 1 result