Safaricom Bonds Rise After Bob Collymore’s Demise


The Giant Telco company Safaricom bonds have reportedly risen to Ksh. 2.9 billion at the Nairobi Securities Exchange (NSE) amid the demise of the Company’s CEO Bob Collymore.

On the day that former chief executive Bob Collymore was laid to rest having passed on a day earlier, the giant telco remained at Ksh28.15. Its share price had traded at highs of Ksh28.30 and Ksh28.

Safaricom’s share price has remained calm amid bereavement, maintaining the price that Collymore was directly responsible for.

When Collymore joined the firm in November 2010, the telco’s share price stood at around Ksh4.62.

Late Safaricom CEO Bob Collymore. PHOTO/COURTESY

Kenya’s largest telco by subscriber base was also the day’s biggest mover with 7.9 million shares valued at Ksh224.7 million.

The trading of July 2nd at the NSE also saw an increase in market turnover. The bourse posted Ksh375 million, up from the previous session’s Ksh222 million. The number of shares traded stood at 19.7 million against 6.6 million posted yesterday.

Of the Ksh375 million, Safaricom’s trading contributed to 59.77% of the day’s traded value.

Image result for nairobi stock exchange

The Bond market meanwhile had bonds worth Ksh2.9 billion transacted, inching up from the Ksh1.9 billion posted previously.

Investors at the NSE also gained more money at the securities exchange.

Market capitalization which measures investor wealth, also bumped upwards to settle at Ksh2.286 trillion. On Monday, the investors were worth Ksh2.284 trillion.

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