Millions of applicants who applied for Safaricom shares in the firm’s Initial

Public Offering that ended on Wednesday, are unlikely to receive the full amount they applied for.

Applicants for shares in the Safaricom Initial Public Offering stood in long queues like this one on Wednesday to beat the deadline for handing in their applications. Photo/ HEZRON NJOROGE This means that funds will soon start flowing in the opposite direction, as crestfallen applicants receive refund cheques, even as two million new investors enter stock market.

http://www.wananchiforums.com/showthread.php?p=657#post657

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Date: Thu, 24 Apr 2008 23:34:50 -0700 (PDT)
From: mike
Subject: Safaricom IPO…: Didn’t we see this coming?