Quickmart IPO: Who is next?

Quickmart’s IPO opens a new chapter for Kenyan investors and home-grown businesses. [Courtesy]

Kenya Pipeline Company Ltd's Initial Public Offering (IPO) is still hot, with the price frozen around Sh9, its original price. Not much movement, and not so surprising. The fact that institutional investors largely bought into this firm could explain its price stability; the speculators are “drowned.” The price behaviour mirrors Safaricom in its early days after the IPO. When are we getting the rest of the IPOs as promised by the Kenya Kwanza government in 2022?

We now have two other IPOs. Dangote oil refinery in Nigeria and Quickmart supermarket.  We hope to soon buy the shares of the Lamu Oil refinery, not yet operational, more like off-plan houses.