Yeah. African Lakes was cross-listed at the NSE in March 2000 and was branded as the first Kenyan IPO but did not live to expectations.
The company issued 4 million shares at Kshs 94.50 each and as a result secured a secondary listing in the NSE. See http://www.nse.co.ke/History.htm
The company then tried raising extra equity but that did not stop its demise leaving the 'technology companies' seriously contemplating the next direction to take in the stock market. See Issue No. 157 on balancing act.
http://www.balancingact-africa.com/news/back/balancing-act_157.html
We now have Safaricom, Telkom (K) and Wananchi having indicated to test the waters soon.
-- With Kind Regards, Bildad Kagai MD - Circuits & Packets Communications Ltd Content & Training Partner - JKUAT E-Government Academy Suite B2, Tetu Apartments, State House Avenue
P. O. Box 20311 - 00200 Nairobi, Kenya Tel. 254 20 2728332 Fax. 254 20 2726965 Cell. 254 724 226600 URL. www.circuitspackets.co.ke URL.
www.JKUATEgovAcademy.ac.ke