Nairobi Securities Exchange IPO Is 6.6 Times Over-Subscribed

Exchange received 17,859 applications for 504.2m shrs vs 66m shrs on offer, Chairman Eddy Njoroge says in statement e-mailed from capital, Nairobi.

* “This is the highest oversubscription in the 60 year history of the Kenyan market”;
* All investors will be allocated minimum of 500 shrs, thereafter in multiples of 100 on pro-rata basis;
* Refunds to be issued before shrs begin trading Sept. 9. Source: Bloomberg