More than 267,000 retail investors have sold their stakes in Safaricom #ticker:SCOM since the telco’s initial public offering (IPO) in 2008, reversing the government’s move to broaden ownership in the country’s most profitable company.
Stock market data shows that the number of investors holding between one and 100,000 shares dropped to 554,499 in July compared to 822,122 in March 2009, resulting in net exits of 267,623 shareholders or 32.5 percent of the owners.
