SportPesa denies initial public offering

Despite reports that it would go public, the Kenyan sports betting firm CEO denied any intentions of doing so.

Kenya.- Over the last few days, rumours about sports betting firm SportPesa planning an initial public offering (IPO) surged after a Bloomberg report. However, the company’s chief executive officer Ronald Karauri denied any intentions from the firm in doing so.

Mr Karauri was recently asked by news agency Reuters whether the company was planning an IPO but he sharply rejected it. “No,” he just answered a reporter’s question.

Nonetheless, Reuters reported that a market source informed about conversations between SportPesa and Nairobi-based Kestrel Capital. The Bloomberg report that sparked the rumours in the first place also said SportPesa had appointed Kestrel Capital East Africa Ltd to advise on the IPO process that would have it listing 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.”