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Kengen-is it time to walk out?
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mlennyma
#1 Posted : Wednesday, August 18, 2010 6:13:16 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,185
Location: nairobi
Pwc have been appointed as the transaction advicers for a second share issue! Dilution,dilution!am quiting unless you good pple convince me otherwise.
Code:
"Don't let the fear of losing be greater than the excitement of winning."
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BGL
#2 Posted : Wednesday, August 18, 2010 6:26:29 PM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,223
Upto now it is not very clear whether they will sell the 19% to a strategic investor (first & preferred option) or to the public through a second share issue. The CEO has been opposed to the latter since 2007 when rumours started doing the rounds over the impending sale.
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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Horton
#3 Posted : Thursday, August 19, 2010 12:26:48 AM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
there is really no dilution coz they are not creating new shares, they are only selling existing ones. Then again, it is ur call. Never really liked kengen or any other utility for that matter.
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My 2 cents
#4 Posted : Thursday, August 19, 2010 11:52:00 AM
Rank: Veteran


Joined: 6/2/2010
Posts: 1,070
What annoyed me most was when Geothermal Develoment Authority was spun out of KenGen with no compensation for shareholders. That was just daylight robbery and I bailed out then.
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winston
#5 Posted : Thursday, August 19, 2010 11:55:12 AM
Rank: Member


Joined: 4/14/2010
Posts: 806
Location: Nairobi
@mlennyma...too soon to jump ship. The process of getting the whole bus of offering the shares on the stock exchange wont happen overnight. And between now and then, there should announcement of end year results, possibly dividends. Me thinks the share still has some up to go before the effects of the offloading take place.

In the end, its your choice
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Surealligator
#6 Posted : Thursday, August 19, 2010 12:12:03 PM
Rank: User


Joined: 6/27/2008
Posts: 709
Location: Velayat-e Faryab
mlennyma wrote:
Pwc have been appointed as the transaction advicers for a second share issue! Dilution,dilution!am quiting unless you good pple convince me otherwise.
Code:


The title of this thread should have been - Kengen, is it time to run out.

For me, any company that has some funny going ons is not a company worth risking or spending a penny in. i.e., access, KPLC, EA portland cement, Standard Newspaper group etc even if they are giving 30 shillings in EPS. Actually, such companies should be delisted and shareholders refunded their money.

Otherwise, these companies are no better than Pyramid Schemes.
Go overdrive in purchasing the goods when there's blood on the streets, expecially if the blood is your own
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Horton
#7 Posted : Thursday, August 19, 2010 1:24:34 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
My 2 cents wrote:
What annoyed me most was when Geothermal Develoment Authority was spun out of KenGen with no compensation for shareholders. That was just daylight robbery and I bailed out then.

Oh yeah that too
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Gordon Gekko
#8 Posted : Thursday, August 19, 2010 2:00:00 PM
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Joined: 5/27/2008
Posts: 3,760
@Horton, they shafted me when they spun Kengen out of KPLC
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mlennyma
#9 Posted : Thursday, August 19, 2010 2:11:48 PM
Rank: Elder


Joined: 7/21/2010
Posts: 6,185
Location: nairobi
thank you ladies and gents for all the advice,i have digested every small bit of advice and iam now one leg in and another out.i have released a bunch waiting to call it a day after results. kudos
"Don't let the fear of losing be greater than the excitement of winning."
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Horton
#10 Posted : Thursday, August 19, 2010 3:15:44 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,558
Location: Nairobi
Gordon Gekko wrote:
@Horton, they shafted me when they spun Kengen out of KPLC

Dang GG, I'm sure that was a few moons ago. Seems u been around. What year was that? And was tree an obvious benefit?? Or transfer of debt along with the assets??
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VituVingiSana
#11 Posted : Thursday, August 19, 2010 3:40:48 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,136
Location: Nairobi
Wasn't PWC & that jamaa agarwal behind the debacle that is/was RVR???
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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