Safaricom IPO

  • IPO date : March 2008
  • IPO price : Ksh 5.00 
  • Shares on offer: 10 billion shares
  • Minimum application: 2000 shares.
  • Minimum Capital outlay: Ksh 10,000/=
  • GoK offloaded 25% of its shareholding in Safaricom worth at least Ksh 50 Bn.
  • At IPO date : Safaricom was valued at approx. Ksh 200Bn.
  • Current Price : Ksh 31.45                    (EOD 15.07.2022)
  • 52 Week Range : Ksh 23.00 – 45.25   (Aug 2021-Jun 22)
  • Market Cap: Ksh 1.26T                        (15.07.2022)

% Breakdown of Shareholders.

Vodacom 35 35 35 35
Vodafone 5 5 5 5
Government of Kenya 35 35 35 35
FREE FLOAT 25 25 25 25

% Breakdown of FREE FLOAT Shareholding by Category.

Foreign corporates 48.4 45.1 44.7 45.6
Local corporates 35.6 39.0 39.7 39.4
Local Individuals 15.5 15.5 15.3 14.6
Foreign Individuals 0.4 0.4 0.4 0.4
Shareholding source : Safaricom sustainability report 2021

Safaricom Share Prospectus - 2008

Safaricom IPO Buyers refund


“Even if we issue the entire 100 percent owned by Vodafone and the Government of Kenya, we’d still not meet the demand,” he said of the demand for the company jointly held by Britain’s Vodafone Group Plc VOD.L and the government. The government is selling a 25 percent stake, or 10 billion shares, in the country’s most profitable company at 5 shillings per share for East African investors and 5.50 shillings for foreigners….Reuters

The Safaricom IPO came after the disputed 2007 election and it came at a time of peace and reconciliation. Still, there was some controversy about the IPO, with some opposition leaders charging that the government was selling off its best company. At the time of the IPO, Safaricom had 9.2 million subscribers and 700,000 M-Pesa users. There was the revelation about Mobitelea, and the large share split and dilution of shares to just five cents (Sh0.05) to accommodate as many shareholders as possible who would buy the shares at the IPO price of Sh5 per share….Daily Nation

Investors who stuck with the share are a happy lot, with the share trading at Sh12.85 by close of business on Friday, more than double its initial public offer price of Sh5 in 2008 and a far cry from a low Sh2.50 in 2011.  But, some investors are telling a different tale, as they are yet to get their refunds from the oversubscribed Initial Public Offering (IPO) amounting to Sh120 million. The 2008 Safaricom IPO was overwhelmingly oversubscribed, after attracting some 800,000 new investors – mostly retail – to the bourse, bringing with them over Sh220 billion against the Sh50 billion the telecom firm was seeking through the offer….The Standard

Safaricom Wednesday regained its position as the most valued company at the stock exchange, boosted by a fresh rise of its share price which touched an intra-day high of Sh5, equivalent to the 2008 initial public offering (IPO) price. The stock however ended the day at an average price of Sh4.85, a 2.1 per cent gain from Tuesday’s average price, as investor appetite for the stock increased on improved earnings outlook for the sector. Safaricom’s market capitalisation soared to Sh194 billion, compared to the second most valued company, East African Breweries (EABL’s) market cap of Sh191.3 billion….BusinessDaily