Eveready East Africa Ltd., Kenya's largest maker of dry cell batteries, fell 91%percent because of increased competition and post-election violence. br /br /Net income for the year ended Sept. 30 declined to 17.84 million Kenyan shillings, or 0.085 shillings a share.br /br /The Company saw an 18% reduction in revenues for the 1st six months of the year. The short fall was caused by unfair competition from large quantities of zero rated duty imports of very low priced batteries

The Co-operative Bank KES 35bn IPO was launched on Thursday 30 October but may be facing possible local under-subscription. In any IPO, the capital markets regulations specify that at least 40% of the shares must be taken up by local investors which presents the company with a problem. In the event that all the 40% of the shares are not taken up, balance can be applied for by foreign investors after approval is granted by the Capital Markets Authority (CMA).