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Scangroup Share Offer Opens |
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By
Godfrey Tung'wet
Posted 17 July 2006 @ 06:57 pm EET |
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NAIROBI (IBTimes.com) - The Scangroup Initial Public Offer (IPO) opens on Monday.The company is offering 69 million shares, which represents 43.4 per cent of the company at Sh10.45. A consortium of three investment brokers — Dyer & Blair, CFC Financial Services and Standard Investment Bank — have underwritten 25 per cent of the issue.
Scangroup is the holding company of several companies offering marketing services across East Africa. The firms include Media Initiative, Lowe Scanad Thompson Kenya, McCann Kenya, Grey East Africa, Scanad Public Relations Draft World Wide East Africa.
Scangroup chairman, David Hutchinson, said the share offer was unique as the company is the first marketing services company to seek listing at the Nairobi Stock Exchange.
"Scangroup is the first marketing company to be listed at the Nairobi Stock Exchange and it is also the first IPO to be underwritten," said Mr Hutchinson.
The offer will close on July 28.
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This article is copyrighted by the IBTimes. |
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