COMPANY

YEAR

METHOD OF PRIVATIZATION

PUBLIC SHARE BEFORE (%)

PUBLIC SHARE AFTER (%)

SECTOR

1.

Kenya Electricity Generating Company

2006

IPO

100

70

Energy

2.

Telkom Kenya

2007

Strategic Sale

100

49

Telecommunication

3.

Kenya Railways Corporation

2006

Concessioning

100

100

Transport

4.

Mumias Sugar Company  2nd Offer

2006

 IPO

38.4

20

Manufacturing

5.

Safaricom

2008

IPO

60

35

Telecommunication

6.

Kenya Reinsurance Corporation

2007

IPO

100

60

Insurance

 

B. RECEIVERSHIPS

 

COMPANY

YEAR

PUBLIC SHARE BEFORE (%)

PUBLIC SHARE AFTER (%)

SECTOR

BUYER

PROCEED (Kshs)

1.

Nairobi Oil Products Ltd

1992

29

0

Oil Recycling

Various Individuals

8,750,000

2.

Tiger Shoes Ltd

1993

16.7

0

Leather

Lento Agencies Ltd

9,000,000

3.

Yuken Textiles Ltd

1993

100

0

Textile

Yuken Mills Ltd

14,000,000

4.

Sirikwa Hotel Ltd

1993

21

0

Tourism

Akamba Invest. Ltd

70,000,000

5.

Kenya Drilling Co. ltd

1993

100

0

Services

Kentco  Taxis Ltd

21,700,000

6.

Kisumu Cotton Mills Ltd

1993

80

0

Textiles

Caneland Ltd

174,961,000

7.

Seracoating Kenya Ltd

1994

34

0

Plastic

 Local shareholders

82,000,000

8.

Pan Vegetable Processors Ltd

1993

100

0

Agri-Processing

Homegrown (K) Ltd

95,000,000

9.

Kenya Taitex Mills Ltd

1995

81

0

Textiles

Kifaru Mills Ltd

81,000,000

10.

Kenya Furfural  Co. Ltd

1995

51

0

Chemic al

Various Shareholders

55,800,000

11.

Kenya Engineering Industries Ltd

1995

50

0

Engineering

Ashut Engineers Ltd

52,505,555

12.

Synthetic Fibres Kenya Ltd

1995

100

0

Textile

Sunrise Textile Mills Ltd

50,000,000

13.

East African Fine Spinners Ltd

1995

74

0

Textile

Bedi Invest. Ltd

282,000,000

14.

Kenatco Taxis Ltd

1996

100

0

Transport

-

 

 

*This figure will increase by the value of Inventories.

C. PRE-EMPTIVE RIGHTS

 

COMPANY

YEAR

PUBLIC SHARE BEFORE (%)

PUBLIC SHARE AFTER (%)

SECTOR

BUYER

PROCEED (Kshs)

1.

Tea Hotel Kericho*

1991

60

0

Hotel & Tourism

Sololo Invest. Ltd

15,000,000

2.

Highland Paper Mills Ltd

1992

17

0

Pulp & Paper

Shareholders

875,000

3.

Y-Fashions

1992

75

0

Textiles

Shareholders

4,000,000

4.

Panafric Hotel Ltd

1993

31

0

Hotel & Tourism

Sarova Hotels ltd

63,855,000

5.

Robinson Baobab Hotel

1993

10

0

Hotel & Tourism

Robinson Hotels Intl

50,234,274

6.

Avon Marketing Ltd

1993

18

0

Services

Existing Shareholders

8,078,400

7.

Avon Rubber Co. ltd

1993

20

0

Rubber

Existing Shareholders

11,949,470

8.

Avon Export Ltd

1993

14

0

Services

Existing Shareholders

55,000

9.

Nestle Foods (K) Ltd

1993

13

0

Food & Beverages

Nestle S. A of Switzerland

18,347,750

10.

Pollmans Tours & Safaris Ltd

1993

49

0

Tourism

Touristik Union Intl.

25,024,895

11.

Salt Manufacturers Kenya Ltd

1993

56

0

Chemical

Saltec International

43,922,724

12.

Kenchick

1993

12

0

Poultry

NAS Airport Services, Credit Finance Corp

4,600,000

13.

Firestone (EA) Ltd

1994

20

0

Rubber

Sameer Invest. Ltd

100,000,000

14.

Chloride Exide (K) Ltd

1994

18

0

Services

NAS Holdings Ltd

5,154,125

15.

Associated Battery Manuf. Ltd

1994

20

0

Automobile

NAS Holdings Ltd

28,141,200

16.

Kenya Fishnet Industries Ltd

1994

43

0

Textile

Afro Meat Co. Ltd

2,418,750

17.

CPC Industrial Products Ltd

1994

18

0

Agri-Processing

CPC International

29,523,530

18

Kenya Cashewnuts Ltd

1994

76

0

Agri-Processing

Kilifi District

78,023,446

19.

African Marine and General Engineering Co. Ltd

1994

33

0

Engineering

First Chartered Securities Ltd

30,712,500

20.

Sanyo Armco Ltd

1995

34

0

Electronics

i)Former Employees

 

ii)Sanyo Electric company of Japan

2,251,080

21

Booth Manufacturing (A) Ltd

1995

29

0

Engineering

Kenya Aluminum Industries Ltd

9,993,060

22

Wire Products Ltd

1995

30

0

Engineering

Industrial Promotion

8,336,250

 

 

 

 

 

 

Services

 

23.

Carnaud Metal Box Ltd

1995

19

0

Packaging

C.M.B of UK

39,188,000

24.

Kenya Bixa Ltd

1995

51

0

Food & Beverage

Kenya Plantations  and Products

35,598,000

25.

Sokoro Fireboard Ltd

1995

26

0

Timber

Other shareholders

22,007,700

26.

Embu Hotel Limited

1995

29

0

Tourism

Other shareholders

3,117,690

27.

Kenya Bowling Centres

1995

26

0

Entertainment

Other shareholders

3,220,000

28

Lion Hill Camp

1995

30

0

Hotel & Tourism

Sarova Hotels Ltd

14,500,000

29

Kenya Fruit Processors Ltd

1995

35

0

Agri-processing

Passi Limited

8,545,000

30

NAS Airport Services Ltd

1995

27

0

Services

Other shareholders

62,920,000

31.

Elson Plastics

1995

17

0

Plastic

Other shareholders

 

32.

Associated Vehicle Assemblers

1996

51

0

Vehicle Assembly

Kenya Motor Handling Co. Ltd & Marshalls (EA) Ltd

154,336,000*

33.

Wananchi Sawmills Ltd

1996

45

0

Saw Milling

Other shareholders

15,444,707

34.

Brollo Kenya Limited

1996

10

0

Steel Rolling

Zambezi Establishment

35,666,631

35.

Kenya shipping Agency Limited

1996

80

0

Transport

Southern Credit Finance Limited

38,416,000

36.

Kenya Industrial Plastic Ltd

1996

33.3

0

Plastic

Carmel Chemicals

4,224,438*

37.

Raymond Woolen Mills

1996

11

0

Textile

Other shareholders

94,023,438

38.

Kenya National Properties

1997

34.1

0

Real Estate

ICDC Investment Co.

124,850,000

39.

Polysynthetic E.A

1997

30

0

Chemical

Hoechst E.A

50,289,030

40.

Dawa Pharmaceuticals

1997

40

0

Pharmaceuticals

Other shareholders

4,988,282

41.

General Motors

1997

51

20

Motor Vehicle

Other shareholders

333,492,750

42.

Minet –ICDC Insurance Brokers Ltd

1997

47

26

Insurance

Other shareholders

21,275,880

43.

East African Industries (EAI)

1997

29

20

 

Other shareholders

200,214,974.85

44.

Eveready Batteries Kenya Ltd

1997

24.87

20.87

Battery

Other shareholders

23,041,200

45.

Milimani Hotel Limited

1997

49.12

0

Hotel Industry

Other shareholders

80,010,000

46.

Warehousing & Forwarding Company

1997

25

0

Clearing & Forwarding

Other shareholders

2,437,360

47.

Kenya National Shipping Lines Ltd

1997

70

45.12

Shipping

Mediterranean Shipping Company

-

48.

Infusion Kenya Limited

1997

13

0

Pharmaceutical

Ever Investment Co.

8,000,000

49.

Stanbic Kenya Limited

1997

40

23

Banking

Sinclair (SBIC)

Share dilution

50.

Maralal Lodge

1997

 

 

Tourism

Other Shareholders

-

51.

Kenya Vehicle Manufacturers Ltd

1997

35

0

Automobile

Other Shareholders

57,750,000

52.

Kisii Bottlers Limited

1997

26.1

Bottling

 

Other shareholders

23,848,470

*Price still under negotiation (this is the offer price)

**Pre-programme transactions

D. PUBLIC FLOATATIONS

 

COMPANY

YEAR

PUBLIC SHARE BEFORE (%)

PUBLIC SHARE AFTER (%)

SECTOR

BUYER

PROCEED (Kshs)

1.

Bamburi Portland Cement Co. Ltd.**

1991

26

 

Mining

NSSF

-

2.

E.A. Oxygen Ltd

1993

15

0

Chemical

Various Investors

42,472,080

3.

CMC Holdings

1993

20

0

Services/Vehicle Assembly

Various Investors

20,074,810

4.

National Bank of Kenya

1994

(1st Issue – 100)

42.5

Banking

Individuals & Other Investors

400,000,000

5.

Kenya National Capital Corporation

1996

2nd Issue 0 42.5)

22.5

Banking

Individuals & other investors

600,000,000

6.

Kenya Airways

1996

100 (GOK)

20

Transport

Individuals & other investors

2,643,750,000 + US$ 26 million

7.

Kenya Airfreight Handling Co. Ltd#

8.

Kenya Flamingo Airways Ltd#

** Pre-programme Transactions

# Kenya Airways Subsidiaries

 

E. COMPETITIVE BIDDING

 

 

COMPANY

YEAR

PUBLIC SHARE BEFORE (%)

PUBLIC SHARE AFTER (%)

SECTOR

BUYER

PROCEED (Kshs)

  1.  

ESA Bookshop

1993

49

0

Services

Mr. N. M. Rajani

75,000

  1.  

Mutuality Investment Trust (Golden Beach Hotel)

1993

100

0

Hotel & Tourism

-

-

  1.  

African Diatomite Industries Ltd

1993

100

0

Mining

Crown Berger Kenya Ltd

45,000,000

  1.  

Mepal Plastics Kenya Ltd

1994

100

0

Plastics

Minolta Limited

17,000,000

  1.  

 

1994

100

0

Agro-Processing

Premier Flour Mills Ltd

150,000,000

  1.  

Hola Cotton Ginnery

1995

100

0

Textile

Malindi Cotton Ginneries Ltd

10,000,000

  1.  

Salawa Cotton  Ginnery

1995

100

0

Textile

Kerio Farms Ltd.

10,000,000

  1.  

Mwea Cotton Ginnery

1995

100

0

Textile

Rift Valley Products Ltd.

15,000,000

  1.  

Homa Bay Hotel Ltd

1995

99

0

Hotel & Tourism

Samvir Management Services Ltd

22,000,000

  1.  

Golf Hotel

1995

80

0

Hotel & Tourism

Buvika Corporation Ltd

70,000,000

  1.  

Meru Ginnery Ltd

1995

49

0

Textile

Mugongai Farmers Co. Ltd

30,000,000

  1.  

Kenya Flourspar Co. Ltd

1996

50

0

Mining

M/s Minerals & Chemicals Manufacturer Ltd. (in Formation)

72,500,000

  1.  

Sunset Hotel Ltd

1996

95

0

Hotel & Tourism

Travel Handling Services Ltd

115,000,000

  1.  

Kibos Cotton Ginnery

1996

 

0

Cotton Ginning

Salome Farmers Group

8,000,000

 

F. MANAGEMENT/EMPLOYEE BUYOUT

 

COMPANY

YEAR

PUBLIC SHARE BEFORE (%)

PUBLIC SHARE AFTER (%)

SECTOR

BUYER

PROCEED (Kshs)

1.

Ark Limited

1996

 

 

Tourism

Utalii Staff Investment Co. Ltd

8,500,000

 Price being negotiated

B. PARTIAL DIVESTITUTES

 

COMPANY

YEAR

Method of Privatization

PUBLIC SHARE AFTER (%)

PUBLIC SHARE  AFTER (%)

SECTOR

BUYER

PROCEED (Kshs)

1.

Kenya Commercial Bank Ltd**

 

  1. Kencom House Ltd#
  2. Kenya Commercial Finance Corporation#
  3. United Finance Company of Kenya#
  4. Notcutt Longaroni#
  5. Savings and Loan Kenya Ltd#
  6. Investment Promotion Services#

1998/90/97/98

 

1998

(GOK)

 

 

Public Floatation

100

35

Banking

Individual & other investors

447,000,000

+

595,000,000

+

1,820,000,000

2.

Mt. Kenya Textile Mills

1992

Receivership

100

48.5

Textile

DFCK & DEG

Share dilution

3.

Uchumi Supermarkets Ltd.

1992(ICDC)

Public Floatation

90

44

Retail Trading

Individuals & other investors

232,000,000

4.

General Motors (K) Ltd

1992 (IDB)

Pre-emptive rights

51

46.5

Vehicle assembly

ITOH & ICDC Investment

Share dilution

5.

Housing Finance Company  of Kenya

1992 (GOK)

Public Floatation

50

30

Housing Finance

Individual & Other investors

126,000,000

 

** Pre-programme transaction

# Subsidiaries and Associated Companies

TEA FACTORIES

Divestiture of 39 Tea Factories owned by KTDA has been completed in addition to the enterprises listed above.

KEY

KTDC               -           Kenya Tourist Development Corporation

ICDC               -           Industrial Commercial Development Corporation

IDB                  -           Industrial Development Bank

KTDA               -           Kenya Tea Development Authority

GOK               -           Government of Kenya

CBK                 -           Cotton Board of Kenya

KNTC               -           Kenya National Trading Corporation

NCPB              -           National Cereals & Produce Board

KCB                 -           Kenya Commercial Bank

 

 

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