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I & M bank private placement.
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bartum
#1 Posted : Thursday, November 18, 2010 10:02:39 PM
Rank: Veteran


Joined: 8/11/2010
Posts: 1,011
Location: nairobi
this is a bank to watch, you will never go wrong just like my CBA. Whoever has info on I& M please share. Information memoranda.
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VituVingiSana
#2 Posted : Thursday, November 18, 2010 10:19:41 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
Private Placement. SIB is the broker so go see them.

Total Capital being raised: KES 2.4bn incl Greenshoe Option
Price per Share: 935/-
Minimum Application: 22,000 shares = KES 20.6mn!!!

[I asked SIB & they said that Companies Act limits the shareholders to 99 for a private firm. I am not an expert but that's why they have a 'high' minimum application]

Like the bank BUT I don't have 20.6mn... So I will watch from the sidelines!

Listing in 2-3 years?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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sparkly
#3 Posted : Friday, November 19, 2010 6:36:55 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Hii ni ya masonko lol
Life is short. Live passionately.
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youcan'tstopusnow
#4 Posted : Friday, November 19, 2010 9:21:36 AM
Rank: Chief


Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Waah! 20.6 MILLION?!
GOD BLESS YOUR LIFE
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Sufficiently Philanga....thropic
#5 Posted : Friday, November 19, 2010 9:33:05 AM
Rank: Elder


Joined: 9/23/2010
Posts: 2,221
Location: Sundowner,Amboseli
VituVingiSana wrote:
Private Placement. SIB is the broker so go see them.

Total Capital being raised: KES 2.4bn incl Greenshoe Option
Price per Share: 935/-
Minimum Application: 22,000 shares = KES 20.6mn!!!

[I asked SIB & they said that Companies Act limits the shareholders to 99 for a private firm. I am not an expert but that's why they have a 'high' minimum application]

Like the bank BUT I don't have 20.6mn... So I will watch from the sidelines!

Listing in 2-3 years?

.........??20M?..Just say that again!!!!
@SufficientlyP
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VituVingiSana
#6 Posted : Friday, November 19, 2010 9:38:15 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
KES 20.57 mn...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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youcan'tstopusnow
#7 Posted : Friday, November 19, 2010 9:51:22 AM
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Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
I hear Mike Sonko will participatesmile
GOD BLESS YOUR LIFE
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Apple Bees
#8 Posted : Friday, November 19, 2010 10:01:13 AM
Rank: Member


Joined: 7/5/2008
Posts: 390
eeeish! kama VVS hana hizo doo, sa AB atado?
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2012
#9 Posted : Friday, November 19, 2010 10:12:52 AM
Rank: Elder


Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
VituVingiSana wrote:
KES 20.57 mn...


Kweli hiyo si ya watu wa Kitengela na Mlolongo (middle class)

BBI will solve it :)
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Sufficiently Philanga....thropic
#10 Posted : Friday, November 19, 2010 10:43:11 AM
Rank: Elder


Joined: 9/23/2010
Posts: 2,221
Location: Sundowner,Amboseli
youcan'tstopusnow wrote:
I hear Mike Sonko will participatesmile

That is if he wont be in courts/jail!
@SufficientlyP
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kyt
#11 Posted : Friday, November 19, 2010 7:51:49 PM
Rank: Elder


Joined: 11/7/2007
Posts: 2,182
mike sonko indeed!
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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young
#12 Posted : Friday, November 19, 2010 8:00:35 PM
Rank: Elder


Joined: 6/20/2007
Posts: 2,048
Location: Lagos, Nigeria
Please enlighten the forum with facts about the bank ?
The wazua spirit as members is to educate and inform and learn from others within the limit of what we know in any chosen area irrespective of our differences in tribes, nationalities, etc. .
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Gatheuzi
#13 Posted : Sunday, November 21, 2010 7:22:36 PM
Rank: Veteran


Joined: 8/16/2009
Posts: 994
Who has information on;
EPS
Price to Book Value
Return on Total Assets

Not that I have the 20M but it doesn't harm to dream.

On other news guys without the cash can use City Trust but IMHO City T is expensive.
Time is money, so money is time. Money saved is time gained in reverse! Money stores your life’s energy. You expend your energy, get paid money, and store that money for a future purchase made in a currency.
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Gordon Gekko
#14 Posted : Sunday, November 21, 2010 8:34:44 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
I bank with I&M and it is frankly the 2nd best bank I've ever used. The collapsed Meridien Biao was the best. Small, personal, friendly. I bank at Kenyatta and one day happened to walk into their Ngong Road Branch. Shock upon me, the lady at the counter remembered me from Kenyatta and I was pleasantly surprised. Not that I have a face one remember, I'm colourless. Can you imagine that happening to you at say SCB? Just hope that the new shareholders will not change the strategy - it is working and I love it.
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VituVingiSana
#15 Posted : Sunday, November 21, 2010 9:15:10 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
@Gatheuzi]
EPS = Expected at 74-84/- for FY 2010
Price to Book Value = 2.5
Return on Total Assets = Don't know!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#16 Posted : Sunday, November 21, 2010 9:18:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
Gordon Gekko wrote:
I bank with I&M and it is frankly the 2nd best bank I've ever used. The collapsed Meridien Biao was the best. Small, personal, friendly. I bank at Kenyatta and one day happened to walk into their Ngong Road Branch. Shock upon me, the lady at the counter remembered me from Kenyatta and I was pleasantly surprised. Not that I have a face one remember, I'm colourless. Can you imagine that happening to you at say SCB? Just hope that the new shareholders will not change the strategy - it is working and I love it.

The staff are friendly & SMILE... Not the cheapest but you can get stuff done! They even 'know' you such that when they see unusual activity on your account, they call you!!!

*** If you have 20.6mn or can be part of a chama that can pool the cash to buy the shares... do it...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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bartum
#17 Posted : Sunday, November 21, 2010 9:45:05 PM
Rank: Veteran


Joined: 8/11/2010
Posts: 1,011
Location: nairobi
VituVingiSana wrote:
@Gatheuzi]
EPS = Expected at 74-84/- for FY 2010
Price to Book Value = 2.5
Return on Total Assets = Don't know!

that gives a P.E of above 10. I better buy a listed bank DTB.
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VituVingiSana
#18 Posted : Sunday, November 21, 2010 9:49:17 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,215
Location: Nairobi
bartum wrote:
VituVingiSana wrote:
@Gatheuzi]
EPS = Expected at 74-84/- for FY 2010
Price to Book Value = 2.5
Return on Total Assets = Don't know!

that gives a P.E of above 10. I better buy a listed bank DTB.

True expect the Bond Trading gains are 480-600mn [from what I was told] for 3Qs 2010 whereas DTBK [an excellent bank] has KES 1bn.

The PER based on 1H 2010 was 12.5 [though lower if you include 3Q 2010]
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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muganda
#19 Posted : Sunday, November 21, 2010 10:34:47 PM
Rank: Elder


Joined: 9/15/2006
Posts: 3,906
Hmmm, slightly miffed with these recent placements which don't seem to offer much of a discount off the normal market. To commit or not?

A quick walk down memory lane shows Equity Bank did list at an almost equivalent P/E in 2006. Considering they only had branches in Nairobi and Central, the answer as to whether it was a good buy is growth company http://bankelele.blogspo...nk-listing-to-z_27.html

Feels like if I relook with these perspective - already demonstrated and clear future growth potential - everything a little less hazy.
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bartum
#20 Posted : Monday, November 22, 2010 9:06:41 AM
Rank: Veteran


Joined: 8/11/2010
Posts: 1,011
Location: nairobi
@muganda not all placements are grab. CiC has historic eps of 6 for a 3 yr growth of conservative 30% gives eps of 13. For a price of 27 the pe will be 1. Just like coop before the listed.
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