The Nairobi Securities Exchange (NSE) posted a decrease of 92.65% to KSh 191.33 million from KSh2.06 billion recorded this Thursday.

Market analysts are projecting a depressed equities markets going into 2023 driven by rising inflation and flight by foreign investors flight.

Many of Kenya’s richest people store significant portions of their fortunes through equity stakes in their own and other companies, which they typically hold via both direct and indirect investments.

The MTN Uganda IPO offers for sale 4.4 billion ordinary shares, accounting for a 20% stake of the company, at a price of UGX 200.00 (KES6.25) per share. Each prospective shareholder must apply for at least 500 shares which, if fully allocated, results in a minimum investment of UGX 100,000 (KES3,125) per shareholder.

NBV, which started out as a shoe-selling company behind the K-Shoe brand, has undertaken a shift in strategy since the entry of Dubai-based Delta International FZE which acquired an 84% stake in the business.

The Nairobi Securities Exchange has lately been cold, thanks to a drought of IPOs and the exit of thousands of retail investors who entered the market riding the IPO wave over a decade ago. Yet still stocks remain one of the key revenue earners for investors who keenly invest in listed companies.