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What is Coop Bank announcing today?
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stocksmaster
#1 Posted : Tuesday, October 26, 2010 11:12:24 AM
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Joined: 9/26/2006
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Location: CENTRAL PROVINCE
It is not the Q3 results but something is in the offing. A significant announcement which am yet to get the full details but involves a strategic partnership. Explains the rapid share rise.

At a P/E approaching 25, it will really need to post spectacular results (above 75% EPS Q3 2009 VS Q3 2010)to support current prices.

Any insider at Coop?

Happy hunting
x handle: @stocksmaster79
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mjuaji wa stocks
#2 Posted : Tuesday, October 26, 2010 11:22:53 AM
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@Stockmasta......pia mimi nangoja!!!

but i have no insider info ..... i love the fundamentals and the management of the bank.

I am buying.

God gave me the power to make wealth ... Blessed the work of my hands & enabled be A SELF MADE BILLIONAIRE ...... TO GOD THE FATHER OF MY LORD JESUS CHRIST; BE THE GLORY NOW & FOREVER MORE!
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mwanahisa
#3 Posted : Tuesday, October 26, 2010 12:15:27 PM
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I understand the announcement is about purchase of a 21% stake in CIC.
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Wa_ithaka
#4 Posted : Tuesday, October 26, 2010 12:16:34 PM
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Doesn't CIC already hold a stake in Co-op?
The Governor of Nyeri - 2017
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Bugatti
#5 Posted : Tuesday, October 26, 2010 12:23:35 PM
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StocksMaster and Mjuaji wa stocks find the link for your info on increase of Co-Op Bank shareholding in CIC from 2% to 21%
http://af.reuters.com/ar...ws/idAFKPO62634420101026
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Eddy
#6 Posted : Tuesday, October 26, 2010 12:23:51 PM
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Wa_ithaka wrote:
Doesn't CIC already hold a stake in Co-op?


I thought CIC was owned by Coop with a few shares here and there by some coop societies and individuals..........
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PKoli
#7 Posted : Tuesday, October 26, 2010 12:23:55 PM
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mwanahisa wrote:
I understand the announcement is about purchase of a 21% stake in CIC.


During the CIC extra ordinary general meeting last month (I posted summary of proceedings in a CIC thread somewhere), we were told that Coop is now the single largest shareholder in CiC.
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mjuaji wa stocks
#8 Posted : Tuesday, October 26, 2010 12:25:27 PM
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[quote=Bugatti]StocksMaster and Mjuaji wa stocks find the link for your info on increase of Co-Op Bank shareholding in CIC from 2% to 21%
http://af.reuters.com/ar...s/idAFKPO62634420101026[/quote]


Thank you bugatti.

Good things!!

Have they announced their 3rd quarter results??
God gave me the power to make wealth ... Blessed the work of my hands & enabled be A SELF MADE BILLIONAIRE ...... TO GOD THE FATHER OF MY LORD JESUS CHRIST; BE THE GLORY NOW & FOREVER MORE!
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PKoli
#9 Posted : Tuesday, October 26, 2010 12:25:31 PM
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Wa_ithaka wrote:
Doesn't CIC already hold a stake in Co-op?


Yes it does have some shares bought before listing
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Bugatti
#10 Posted : Tuesday, October 26, 2010 12:30:24 PM
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Joined: 10/14/2010
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Location: Nairobi Kenya
This makes me very happy since i will fully take up all my Rights in the issue coming up in November.Niko ngangari mbaya on CIC share.
Better things are coming up in this marriage btw Co-Op bank and CIC.The two are relly consumating their marrriage.Ha!
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PKoli
#11 Posted : Tuesday, October 26, 2010 12:39:55 PM
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[quote=Bugatti]StocksMaster and Mjuaji wa stocks find the link for your info on increase of Co-Op Bank shareholding in CIC from 2% to 21%
http://af.reuters.com/ar...s/idAFKPO62634420101026[/quote]

Many thanks Bugatti. This is good news as I plan to pick up my CIC rights and apply for more
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Bugatti
#12 Posted : Tuesday, October 26, 2010 12:55:07 PM
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PKoli=I can see a situation now that this CIC share will be greatly oversubscribed.I will just Invest in this share then keep quiet and wait for 2013.
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muganda
#13 Posted : Tuesday, October 26, 2010 1:23:31 PM
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Joined: 9/15/2006
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Based on the information, CIC becomes an associate. Hence as per IAS 28/IFRS 9 Cooperative Bank should show investments in associate in their P&L.

BUT Assuming a 30% gain in CIC profit over last year, this would be an annual 236m x 1.3 * 0.2 = 61m included for COOP as profit after tax

Not too much to write home about. So perhaps the fortune tellers are looking on favourable BankAssurance prospects...
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