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Kenya: The number of African companies listing shares could rise by a quarter this year if all the firms that have said they plan an initial public offering (IPO) move ahead, international law firm Baker & McKenzie said.
Shares on many African bourses have offered enticing returns in the past five years, but investors have complained about a limited number of IPOs, high fees and poor liquidity. Baker & McKenzie, a leading law firm by deal count for mergers and acquisitions involving emerging markets, said 30 firms were preparing to list this year, up from 24 in 2014.
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