DeniAfrica

The IHT reports on the KenGen IPO:

In their market debut, the shares closed at nearly four times the issue price of 11.9 Kenyan shillings, or 16 U.S. cents, a ringing endorsement of the first privatization since President Mwai Kibaki’s coalition took over in 2002, pledging economic reforms.
The listing crowned a successful government campaign to promote share ownership among the wananchi - ordinary people in Swahili - that brought renewed interest in capital markets and drew many investors to the stock market for the first time.
With demand three times the number of stocks on offer in Kenya’s first IPO in a decade, the KenGen story has inspired pride among Kenyans weary of press reports about rampant corruption, crime and hunger.