KenGen IPO - the 'aftermath'

I decided to cash out of KenGen (not because I was broke :) ).

I also think that the price could come down further as institutional investors are unlikely to enter the market until the price goes below a certain level - maybe something like 20.

Based on my 'kienyeji analysis' http://josiahmugambi.blogspot.com/2006/04/kengen-ipo.html,
I had decided that I'd get out when the price hit 30. However, like everyone else I was surprised to see it hit 50+ on the first day of trading.

Anyway, the annual results could play a big part in determining the direction the stock will take in the short term.

Update: 'Lord' Tom Cholmondley

from kissfm.co.ke news:

MBUGUA SHOT BY CHOLMONDLEY
The man shot dead last night by Lord Delamere’s grandson Tom Cholmondley has been identified as 37-year-old Robert Njoya Mbugua, who lived in Greenstead estate in Nakuru. And police say they also suspect he and his four accomplices who got away were poachers, because a dead gazelle was found at the scene of the shooting.

visit http://www.kissfm.co.ke/news.php

==

So apparently they were poachers... or were they?

'Lord' Cholmondley

Rumour has it that he has now shot another guy... jana

ati he was a poacher...

the guy died on the way to hospital..

was probably a farmer

details later

Yaani.... Since when did he become Judge, jury and executioner ...

I hate ICT certficates and all these papers

u go for an interview with a stock pile of papers showing that you are more or less giving Dexter (the boy genius who lives by the laws of science, and hates his sister DeeDee :) ) competition.

So u think u match einstein's IQ, what with all the papers nicely tucked in your portfolio and ready to be flashed out to the interviewer at a moments notice.. papers ..

Well .. of course you're totally prepared for the interview and you get the job.. (your job title probably reads IT Manager or something inspiring and important)

Lakini wacha the real IT world hits you... (i.e. papers != knowledge) a simple virus can give u nightmares and make u miss that (executive) lunch.. or the mere mention of another operating system apart from Micro$oft windows.. can be (almost) heart stopping..

but then you think.. after all ... papers are everything ... or are they...?

Kengen IPO

Look at Bankelele's post for details of the allocation.

I really feel for the large individual & institutional investors who applied for large quantities of shares only to get a paltry 6,600 shares.. lost income for them since that money would have generated some income elsewhere for them.

I still think the advisors, architects etc of the IPO had no idea of the kind of response they'd get.

Now that there's alot of money being refunded.. i suspect that at least half of the 12B being refunded could find it's way back into the NSE... that means that everything shoots up, with possibly no regards for fundamentals of investing etc..
I'm kinda sceptical of such situations... before every bear market, there's usually a bull market... now the key thing is to know when the bull ends.