Rank: Veteran Joined: 9/5/2007 Posts: 627
|
@Ericsson: For the sake of PKoli and myself (and everyone who's been accumulating CIC) I pray that your projection is on point!
@Bugatti & PKoli: What worries me about the CIC board is that these mzees are very politically inclined and have not been for the idea of listing the company. Remember CIC's shareholding is drawn from Cooperative Societies who are represented on the board by their elected directors. I have it on good authority from a CIC senior manager that they have not been very enthused by the listing idea as they lose control of the company. Fortunately for us, Kuria is very headstrong and determined to have the company listed. Hopefully Coop Bank pushes them to list pre-2013 (but not until I have enough!).
I will take up my full rights and will continue hunting for more! I have a plan in mind and I hope to execute in to perfection after the closure of the rights issue!
|
|
|
Rank: Elder Joined: 2/10/2007 Posts: 1,587
|
@Sasha,
I hope Erickson's projections come true. I will also be a beneficiary. I think CIC has the impetus to produce good results.
On the point about Wazees on the board, I think this is mainly from the Sacco business. A number are representing their saccos. Fortunately saccos are being streamlined and going forward we are likely to see better governance in the management of these saccos. This will only augur well for CIC.
Kudos to Nelson Kuria, he has done a fantastic job at the helm of CIC and he means well for the company. Selling shares to Coop bank was a great idea, since strategic decisions will surely come from Coop.
Remember even Coop went IPO with all the Wazees on the board, so will CIC.
My strategy is just to keep buying these shares after the rights.
|
|
|
Rank: Elder Joined: 2/10/2007 Posts: 1,587
|
CIC should have employed an experienced broker to facilitate to assist in the process of the rights issue. They seem to be having serious challenges in the way they are managing the process. No clear timetable, no info on when people are supposed to pay for the shares and no info on share price, just under a month before the whole exercise is concluded.
Today I received share certificate, looks they have appointed Coop bank as their share registrar.
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
|
For those who are unable to participate in the rights issue wait for the IPO.That will be another opportunity to make money Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Member Joined: 12/8/2009 Posts: 274 Location: Ltktk
|
now that they are doubling the number of shares wont the price of the share over the counter go down? juu sasa kama shares zimekuwa nyingi...... and why did they initially hint on selling to new shareholders and then suddenly changed it into a rights issue? i think those of us locked out will stil acquire them over the counter. no need to wait till IPO ...things fall apart...the centre cannot hold..mere anarchy is loosed upon the world...w b yeats
|
|
|
Rank: Elder Joined: 12/4/2009 Posts: 10,702 Location: NAIROBI
|
There are better counters which are going to give u higher returns. And CIC being in the insurance sector and the way insurance companies in the NSE have a low PE ratio. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
|
|
|
Rank: Member Joined: 5/27/2010 Posts: 324 Location: nrb
|
Yenyewe this CIC thing gets more space here in wazua more than half of the listed firms. But i think people who are not yet in should be more particular about its fundamentals compared to listed peers/industry.
Days when share price will rise automatically/by default just because of listing/ipo are no more.
|
|
|
Rank: Member Joined: 5/27/2010 Posts: 324 Location: nrb
|
I wish someone could give us some info on unlisted over-the- counter goingons for other rapid-growth industry firms, expected to list in the near future. Other than transcentury, I dont seem to have heard of any.
|
|
|
Rank: Chief Joined: 1/3/2007 Posts: 18,129 Location: Nairobi
|
Seems Kingdom Financial will handle CIC's Rights & Listing... Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
|
|
|
Rank: Elder Joined: 2/10/2007 Posts: 1,587
|
VituVingiSana wrote:Seems Kingdom Financial will handle CIC's Rights & Listing... Yeah! Suntra and AAKS have been left out. They have been dealing in CIC OTC shares. Any concrete info on the pricing?
|
|
|
Rank: Veteran Joined: 9/5/2007 Posts: 627
|
I thought AAKS and Suntra were handling the issue!? Oh well, doesn't change anything!
@PKoli: The timetable is out, but I have no idea why it hasn't been published. Apparently, it was out as early as last week but they have been 'debating on whether to have it published'!
|
|
|
Rank: New-farer Joined: 9/20/2010 Posts: 79
|
Sir pkoli,are class a shares eligible for trading at the ipo or will they be locked out for upto 5yrs like coopbank.
|
|
|
Rank: Elder Joined: 2/10/2007 Posts: 1,587
|
Sasha wrote:I thought AAKS and Suntra were handling the issue!? Oh well, doesn't change anything!
@PKoli: The timetable is out, but I have no idea why it hasn't been published. Apparently, it was out as early as last week but they have been 'debating on whether to have it published'! I think CIC have not handled the process well. Poor information flow. They should have employed one of the PR firms.
|
|
|
Rank: Elder Joined: 2/10/2007 Posts: 1,587
|
Kalameni wrote:Sir pkoli,are class a shares eligible for trading at the ipo or will they be locked out for upto 5yrs like coopbank. They might be locked out like Coop, but I doubt if it will be 5 years. May be 2-3 years. Is your sacco buying?
|
|
|
Rank: Veteran Joined: 9/5/2007 Posts: 627
|
@PKoli: I agree they have not handled the process well. Info is actually being released in doses by the Company Secretary. But I understand that there is no legal obligation to publish the timetable. They can easily say that this is a private matter and is only for the information of existing shareholders. You will be getting some communication soon regarding the issue!
|
|
|
Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
|
..I think more information will be or are being released to Saccos and the current shareholders of CIC through post offices.....please liaise with your sacco as we wait for public announcements, if any, that will be made by CIC
|
|
|
Rank: New-farer Joined: 10/14/2010 Posts: 50 Location: Nairobi Kenya
|
@PKoli=I have just spoken to my sacco Mhasibu and they say deadline will be on 29th November to apply and take up all your rights.One of my friends aslo tells me that new sacco members who are Not CIC shareholders might me considered at a later date.(In my view i feel they will consider them if the rights are not all taken up fully).So you guys who are not registered sacco members anza kuregister in anticipation
|
|
|
Rank: Elder Joined: 2/10/2007 Posts: 1,587
|
Bugatti wrote:@PKoli=I have just spoken to my sacco Mhasibu and they say deadline will be on 29th November to apply and take up all your rights.One of my friends aslo tells me that new sacco members who are Not CIC shareholders might me considered at a later date.(In my view i feel they will consider them if the rights are not all taken up fully).So you guys who are not registered sacco members anza kuregister in anticipation @Bugatti Many thanks for that info. Have they said when the rights are starting, price and ratio? Is it one for every one? And whether existing shareholders can apply for more than their rights entitlement?
|
|
|
Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
|
pkoli, some of these things are obvious, you can apply for as many rights as you wish, beyond your entitlement, that is. The price is Kshs 27/= per right.
|
|
|
Rank: Elder Joined: 2/10/2007 Posts: 1,587
|
Layman wrote:pkoli, some of these things are obvious, you can apply for as many rights as you wish, beyond your entitlement, that is. The price is Kshs 27/= per right. That is true for the market as we know it. CIC may decide that you only take up your rights, no more!
|
|
|
Forum Jump
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.
|