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KPLC - Great results 2010
Rank: Chief Joined: 1/3/2007 Posts: 18,347 Location: Nairobi
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mkonomtupu wrote:VituVingiSana wrote:mkonomtupu wrote:I have exited KPLC at 210, I will re-consider it during the rights issue if there is value. I don't trust GoK valuations like that of safcon IPO at 5.80. You were conned... I paid 5/- for mine... No, I do not trust GoK [see KenolKobil comments] & I think it should be closer to 300/- At 210/-, I would rather pay GoK a Preference Dividend! I actually bought safcon at 2.90 and exited at 5.20 but i don't want to be holding the wrong end when the cow is slaughtered u know Wanjiku always ends up with the tail. In true Kenyan style... you bought at 2.90 then claimed it was 2x the price! Do not worry... the KRA does not charge capital gains tax! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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We saw KPLC hit a high of 266 this week. Even after weakening over the past two days, following additional profit taking, the omens still appear bright for this share.
I am thinking that Institutions that hold the share are pushing the price up so that they do not get overly diluted when Govt converts its preference shares. If so that is a MAJOR POSITIVE.
Of course the SMALL MATTER of an expected EPS of over Kshs 50 and Full Year Dividend of Kshs 10 (note - MY expectation) does not hurt.
Methinks the price should stabilize at the Kshs 240 range in the next few days as we await details of the restructuring. After that 300 is no longer farfetched!
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KPLC - Great results 2010
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