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CIC private placement
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whynow
#1 Posted : Thursday, November 25, 2010 3:20:33 PM
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Joined: 7/19/2010
Posts: 98
Location: Kenya
I saw posters yesterday at a coop branch announcing the above placement. I enquired and was told that its opened to members of public who are members of a co-operative and not necessarily an existing shareholder. Anyone to collaborate this ?
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Layman
#2 Posted : Thursday, November 25, 2010 3:50:57 PM
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Joined: 9/21/2006
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Location: Nairobi
@whynow.....Yes, thats true. Just search for previous thread on this as it was discussed here recently
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madebe
#3 Posted : Thursday, November 25, 2010 3:57:09 PM
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Joined: 10/7/2010
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Location: nairobi
i read the prospectus and noted
1) they are very scanty on information that can enable u to judge the placement
2)the number of shares being offer are to little. you cannot get a good number of shares. this is also the problem with Brari rwanda something
3) is it just hype about private placements or what? arent there investments that are better and tradable than CIC
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Eddy
#4 Posted : Thursday, November 25, 2010 4:18:10 PM
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Joined: 7/20/2006
Posts: 277
choice is the key word here, cic is an okay share.
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mwanahisa
#5 Posted : Monday, November 29, 2010 8:13:56 PM
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Joined: 6/2/2008
Posts: 1,438
madebe wrote:
i read the prospectus and noted
1) they are very scanty on information that can enable u to judge the placement
2)the number of shares being offer are to little. you cannot get a good number of shares. this is also the problem with Brari rwanda something
3) is it just hype about private placements or what? arent there investments that are better and tradable than CIC


I went to the CIC offices in town and they had no prospectus or Information Memorandum. In fact the dude I was referred to, wondered what that was. Anyhow, I applied for the rights based on last year's annual report.

However, Madebe, might you have the IM in soft form, or anyone else for that matter. I would really like to enhance the information I have on this one.
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TUPAC
#6 Posted : Monday, November 29, 2010 8:51:15 PM
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Joined: 12/8/2009
Posts: 274
Location: Ltktk
actually its like the cic employees are too ignorant of the rights issue and the private placement. was at town branch also and the guys at customer care cant answer basic queries like how to address the bankers cheque.
yaani wao ni kama hii kitu haiwausu.
all the same i applied for the minimum 2k shares. hope i get full allocation.
i doubt whether there is an information memorandum for this thing!
...things fall apart...the centre cannot hold..mere anarchy is loosed upon the world...w b yeats
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PKoli
#7 Posted : Monday, November 29, 2010 9:21:51 PM
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Joined: 2/10/2007
Posts: 1,587
I propose that you call the CIC headquarters, there are more informed people there. Obviously,you will not get a propsectus for a company doing Private Placement same as that of a company preparing to list on NSE
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TUPAC
#8 Posted : Monday, November 29, 2010 9:38:50 PM
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Location: Ltktk
@pkoli habari ya siku nyingi? sasa abt this cic thing do you think the shares will be readily available over the counter after the rights? and unakadiria at what price? coz i hope to add more with time until they list in 2years time.
...things fall apart...the centre cannot hold..mere anarchy is loosed upon the world...w b yeats
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mwanahisa
#9 Posted : Monday, November 29, 2010 9:50:05 PM
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Joined: 6/2/2008
Posts: 1,438
PKoli wrote:
I propose that you call the CIC headquarters, there are more informed people there. Obviously,you will not get a propsectus for a company doing Private Placement same as that of a company preparing to list on NSE


@PKoli. I did indeed call CIC Hqs at Upper Hill and the lady designated for that promised to send me some info but didn't. The person also appeared fairly hesitant. My conclusion was that they really did not have much information to share.

So, what did you rely upon other than the knowledge you already had of the company?

BTW, both I&M Bank & Deacons had fairly comprehensive information memoranda, so it is not unusual even for private placements.
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PKoli
#10 Posted : Monday, November 29, 2010 9:54:23 PM
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Joined: 2/10/2007
Posts: 1,587
TUPAC wrote:
@pkoli habari ya siku nyingi? sasa abt this cic thing do you think the shares will be readily available over the counter after the rights? and unakadiria at what price? coz i hope to add more with time until they list in 2years time.


@Tupac. Ahsante, mimi ni mzima. I have been strategising to get the cash for this share, KCB and KPLC.

Yes, the share will be more available due to increased supply and awareness. This will be a very active OTC. However, if you have cash please buy as much as your pocket can allow. I am picking up all my rights and adding more.

CIC will be moving to Southern Sudan, Malawai and some other countries to grow the Coop Insurance. Now, they will have enough money from the rights. I think we may a nother Coop bank! Why would Coop bank increase their stake to 21%?
Happy investing
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PKoli
#11 Posted : Monday, November 29, 2010 10:01:41 PM
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Joined: 2/10/2007
Posts: 1,587
mwanahisa wrote:
PKoli wrote:
I propose that you call the CIC headquarters, there are more informed people there. Obviously,you will not get a propsectus for a company doing Private Placement same as that of a company preparing to list on NSE


@PKoli. I did indeed call CIC Hqs at Upper Hill and the lady designated for that promised to send me some info but didn't. The person also appeared fairly hesitant. My conclusion was that they really did not have much information to share.

So, what did you rely upon other than the knowledge you already had of the company?

BTW, both I&M Bank & Deacons had fairly comprehensive information memoranda, so it is not unusual even for private placements.


@Mwanahisa,

That is very unfortunate for you. I did not really need the prospectus since I have been receing annual accounts, having bought during the initial PP. I have been following the company for a while. I also attended the extra ordinary general meeting where the future plans for CiC were extensively discussed. It was also clear that they wanted CiC to remain with the Cooperative culture or control even as they offload some more shares.
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