SportPesa rejects IPO rumours

SportPesa, an Africa-based online betting platform, has denied the news that it is going to issue an initial public offering (IPO). Bloomberg, among others, had reported the news.

Ronald Karauri, the company’s chief executive officer, has revealed the company does not have any intentions to issue an IPO.

Mr. Karauri was recently asked by news agency Reuters whether the company was planning an IPO. He answered curtly: “No” he just answered a reporter’s question.

However, Reuters reported that a market source informed about discussion between SportPesa and Nairobi-based Kestrel Capital. The Bloomberg report that created the rumours also suggested that SportPesa had appointed Kestrel Capital East Africa Ltd to advise on the IPO process that would have it listed its shares on the Nairobi Securities Exchange sometime in the first quarter of 2019.

Beside the bare “no” from the company’s CEO, SportPesa issued a statement saying that it is “constantly exploring opportunities that will create value for our stakeholders” and advanced that it will inform about any decisions “when appropriate.”