Word: ipos
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...preserve market share, Mibanco is offering incentives to current customers to get friends to sign up. That's hardly insidious--as anyone with a gym membership can tell you--but it does flick at the concern that lenders might start driving demand. And now Mibanco is contemplating an ipo. "We have two objectives," says Llosa. "One of them is to have a social impact, but we also look to be profitable. If we decide to only have a social impact, we won't have resources to grow...
...three-day meeting of 1,700 pastors that Warren later told TIME was "the most important conference of my life," the author of the Purpose Driven Life threw open participation in his PEACE coalition to the wider Evangelical community. It was the Evangelical equivalent of a long-awaited IPO of a tech start-up whose brand the cognoscenti have predicted will become a global juggernaut: The PEACE coalition is a plan of epic ambition, to turn at least half of the world's tens of millions of Christian churches into a giant "network of networks" dedicated to relieving the poverty...
...IPO could be a welcome boost for the economy, which suffered a major blow from the nationwide turmoil sparked by the election dispute. At least 1,000 people were killed in the violence, and on Wednesday, Finance Minister Amos Kimunya said the economy would almost certainly slow down in 2008 because of the crisis. At a gala event to launch the IPO, Kibaki portrayed the offering as a step in the healing process, and urged Kenyans to "take advantage of this investment opportunity and take part in the success story that we have created together...
...allegations, Michael Joseph, the CEO of Safaricom, told the Daily Nation, "I hope they do not detract potential investors from investing in a very strong company with strong growth prospects." Joseph said that confidentiality agreements prevent him from revealing the names of the owners of Mobitelea but that the IPO is fully legal...
...sale to investors abroad, making some Kenyans grumble that rich foreigners - or rich Kenyans with foreign bank accounts - would profit off the sale. "It's just another advantage to the rich, who will keep their millions and millions," says David Mutua, 27, a security guard. Still, the IPO was so popular among ordinary Kenyans that even opposition leader Raila Odinga, who narrowly lost a disputed presidential election to incumbent Mwai Kibaki in December, had to dial back his distaste for the offering. Once he realized that the sale would go ahead, it became obvious that standing in the way would...