THE OTHER IPO WINNERS
The other day I went to my stockbroker to transact some biz (no not to buy KENGEN shares). I was surprised the queue and extra staff to handle the new IPO buyers. It struck me that the brokers are going to come out of this IPO thrice lucky:
1. They get to earn a Commission for all the shares bought through them.
2. They get to trade for 24 days on your money before handing it to KCB (receiving Bank). With a large sum of money you can do a lot e.g. Overnight Lending.
3. When the excess funds are refunded on May they can convince the “New Shareholders” to buy more shares and make more commissions
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2 comments:
This one caught me. Talking of stockbrokers trading with your money, I once ordered a bulk of shares teo years ago from this broker go kept on buying them in bits and pieces as and when they became available. When I wanted to sell, it was really abig fight in finding out how much of what I had, because most of the stock was held in those 'nominee a/cs' which essentially allow the brokers to trade with ones shares until they tosheka.
Pole sana,
it happens u must remember brokers( even in the west) r a bit like sluts, once they stop doing what u pay them to do,its time to change. I've been through 4 in 7 years.
By the way back in the Certificate days u had to open a nominee a/c's(like u did) to trade quick
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