Investor interest in the mobile-based infrastructure bond M-Akiba rose last weekend as the sale entered the homestretch, but cash raised remained way below the Sh1 billion target.
About Sh236.09 million had been raised by 1:52pm Friday or 23.61 per cent of the target. But registration rose to 302,753 investors ahead of today’s deadline according to the Treasury.
Barring a last-minute surge in interest, the bond appears headed for massive under-subscription amidst electioneering noise.
The door remains open for subscription of up to Sh3.85 billion that currently seems unattainable.