Kenya’s Ministry of Treasury has decided to extend the closing date of its mobile traded bond sale by eight weeks to 11 September from 21 July 2017.
Retail investor response has been tepid, and as of Friday noon, Treasury had raised Sh 128 Million or approximately 12.8 percent, of the Sh 1.0 Billion on offer. There was a further green shoe option of Sh 3.85 Billion should there be sufficient demand, with the proceeds going to finance the country’s infrastructure projects.
Treasury is selling 3-year bond through the mobile phone at a tax free interest rate of 10%.
Take a look at this poll on our handle.
2nd Phase of M-Akiba bond raised only Sh 128Mn as of Friday noon against a target of Sh 1 Bn…Reason;
— Kenyanwallstreet (@kenyanwalstreet) July 22, 2017
