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Kplc restructure plan out
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KIRTI
#361 Posted : Wednesday, December 08, 2010 3:41:15 PM
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Joined: 8/17/2010
Posts: 116
There is romour in nairobi GOK right has been purchased by Equity bank, Co op bank & centum. It will come on the board by Friday.
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2012
#362 Posted : Wednesday, December 08, 2010 4:02:42 PM
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Joined: 12/9/2009
Posts: 6,592
Location: Nairobi
KIRTI wrote:
There is romour in nairobi GOK right has been purchased by Equity bank, Co op bank & centum. It will come on the board by Friday.


It's not a rumour. Equity and Centum will be underwriting 30% and 10% respectively (if I'm not wrong).

BBI will solve it :)
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VituVingiSana
#363 Posted : Wednesday, December 08, 2010 4:07:19 PM
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Joined: 1/3/2007
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Location: Nairobi
Underwriting is different from buying Rights...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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My 2 cents
#364 Posted : Wednesday, December 08, 2010 4:20:05 PM
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Joined: 6/2/2010
Posts: 1,075
I once made asked in a new post....

Does anyone have more information? Typical terms of an underwriting require the underwriter to subscribe for any shares offered but not taken up by shareholders.

Is this the case for the KPLC rights? i.e. Will Equity/Centum take up ONLY the rights that have not been taken up by the market? Or were they given the government rights outright?

There was no response, so I guess no one knows
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VituVingiSana
#365 Posted : Wednesday, December 08, 2010 4:27:04 PM
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Location: Nairobi
My 2 cents wrote:
Will Equity/Centum take up ONLY the rights that have not been taken up by the market?
Yes.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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guru267
#366 Posted : Wednesday, December 08, 2010 4:54:05 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
My 2 cents wrote:
I once made asked in a new post....

Does anyone have more information? Typical terms of an underwriting require the underwriter to subscribe for any shares offered but not taken up by shareholders.

Is this the case for the KPLC rights? i.e. Will Equity/Centum take up ONLY the rights that have not been taken up by the market? Or were they given the government rights outright?

There was no response, so I guess no one knows


@my 2 cents yes they can only take up rights subscribed for through underwriting but nothing stops them from buying G.O.K rights off the market....

BTW I was at D&B today there were loads of people... 90% of whom were going for K.P.L.C rights on the market... Sweet Laughing out loudly Laughing out loudly Laughing out loudly

Mark 12:29
Deuteronomy 4:16
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KIRTI
#367 Posted : Wednesday, December 08, 2010 4:59:02 PM
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Joined: 8/17/2010
Posts: 116

It's not a rumour. Equity and Centum will be underwriting 30% and 10% respectively (if I'm not wrong).[/quote]
EB & Centum have severally undertaken to take up to 40% and 10% of the right respectively.If GOK will not sale their right before 15th Dec, then right will be lapse. GOK have sold their right with premium to EB, Centum & Co Op. bank.
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Sufficiently Philanga....thropic
#368 Posted : Wednesday, December 08, 2010 6:02:58 PM
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Joined: 9/23/2010
Posts: 2,221
Location: Sundowner,Amboseli
awaiting those serious trades early next week, the direction the share will take once the rights stop trading on 15th, and the impact on the stock when the oversubscription is finally announced!
@SufficientlyP
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TUPAC
#369 Posted : Wednesday, December 08, 2010 6:33:16 PM
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Joined: 12/8/2009
Posts: 274
Location: Ltktk
KIRTI wrote:

It's not a rumour. Equity and Centum will be underwriting 30% and 10% respectively (if I'm not wrong).

EB & Centum have severally undertaken to take up to 40% and 10% of the right respectively.If GOK will not sale their right before 15th Dec, then right will be lapse. GOK have sold their right with premium to EB, Centum & Co Op. bank.[/quote]
those guys saying gov. rights have been taken by equity, coop and centum how sure are you?is it just rumours or you can substanciate?
after all the gov. can choose whom to sell the rights to! but really do they have to take all the rights without leaving a good fraction to the mwananchi? sasa hii ni mbaya sana!!!
...things fall apart...the centre cannot hold..mere anarchy is loosed upon the world...w b yeats
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innovator
#370 Posted : Wednesday, December 08, 2010 8:48:36 PM
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Joined: 7/24/2010
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Location: nairobi
If the market cannot push the price beyond sh3 without governments supply, why would somebody complain if they were offered to equity or anybody else.
seems the supply is enough for the market even without the government rights.
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Aguytrying
#371 Posted : Wednesday, December 08, 2010 10:38:13 PM
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Joined: 7/11/2010
Posts: 5,040
Today the were trades at 2.65 for the rights. Leaving the demand at 2.80-2.70. Unless u know the exact price to bid, its hard to get gov rights. Your high bid will just be left hanging.
The investor's chief problem - and even his worst enemy - is likely to be himself
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jerry
#372 Posted : Thursday, December 09, 2010 1:00:20 AM
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Joined: 9/29/2006
Posts: 2,570
@innovator. We want to acquire the rts more cheaply.
The opposite of courage is not cowardice, it's conformity.
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Sober
#373 Posted : Thursday, December 09, 2010 8:44:12 AM
Rank: Elder


Joined: 11/27/2007
Posts: 3,604
2012 wrote:
KIRTI wrote:
There is romour in nairobi GOK right has been purchased by Equity bank, Co op bank & centum. It will come on the board by Friday.


It's not a rumour. Equity and Centum will be underwriting 30% and 10% respectively (if I'm not wrong).


underwritting for EB is 40% and not 30%.
African parents don't know how to say sorry.. the closest you will get to a sorry is a 'have you eaten'
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guru267
#374 Posted : Thursday, December 09, 2010 5:57:50 PM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
TUPAC wrote:

those guys saying gov. rights have been taken by equity, coop and centum how sure are you?is it just rumours or you can substanciate?
after all the gov. can choose whom to sell the rights to! but really do they have to take all the rights without leaving a good fraction to the mwananchi? sasa hii ni mbaya sana!!!


@TUPAC G.O.K can sell to whoever they want then not why sell to the underwriters??? Especially when they are willing to pay...

James Mworia said Centum would make a killing from the rights issue... How will they do it if the rights issue is fully subscribed by shareholders??? They won't get a single right they underwrote...

The only way I see him making a killing is applying for G.O.K rights.... Same goes for James Mwangi and Equity...
Mark 12:29
Deuteronomy 4:16
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TUPAC
#375 Posted : Thursday, December 09, 2010 6:32:55 PM
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Joined: 12/8/2009
Posts: 274
Location: Ltktk
guru267 wrote:
TUPAC wrote:

those guys saying gov. rights have been taken by equity, coop and centum how sure are you?is it just rumours or you can substanciate?
after all the gov. can choose whom to sell the rights to! but really do they have to take all the rights without leaving a good fraction to the mwananchi? sasa hii ni mbaya sana!!!


@TUPAC G.O.K can sell to whoever they want then not why sell to the underwriters??? Especially when they are willing to pay...

James Mworia said Centum would make a killing from the rights issue... How will they do it if the rights issue is fully subscribed by shareholders??? They won't get a single right they underwrote...

The only way I see him making a killing is applying for G.O.K rights.... Same goes for James Mwangi and Equity...

@guru thankyou for that rejoinder. now whats the best strategy for this thing? was hoping to grab a bit of the gova rights cheaply on the market but i feel 3bob is a bit high! unlike kcb whose rights went down to 50 cents. sasa do you think shareholders who apply for extra shares watapata more than the guaranteed 1000 extra shares?
...things fall apart...the centre cannot hold..mere anarchy is loosed upon the world...w b yeats
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youcan'tstopusnow
#376 Posted : Friday, December 10, 2010 6:07:27 PM
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Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Aguytrying, seems you spoke too soon. Rights price crashed to 2 bob today. 4.69 million of them traded
GOD BLESS YOUR LIFE
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guru267
#377 Posted : Friday, December 10, 2010 6:49:59 PM
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Joined: 1/21/2010
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Location: Nairobi
youcan'tstopusnow wrote:
Aguytrying, seems you spoke too soon. Rights price crashed to 2 bob today. 4.69 million of them traded


@youcan't this is what I wanted... I did not touch the rights at a 3-5bob premium but the second these things fall below 2bob i'm in slowly by slowly... smile
Mark 12:29
Deuteronomy 4:16
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Tommy
#378 Posted : Friday, December 10, 2010 7:29:09 PM
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Joined: 12/9/2010
Posts: 894
Location: Nairobi
@for me buying the right for more than sh1.50 is expen. so i will adopt a wait n c att. n btw do rights issue attract brokers comm?
Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
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Aguytrying
#379 Posted : Friday, December 10, 2010 9:23:21 PM
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Joined: 7/11/2010
Posts: 5,040
youcan'tstopusnow wrote:
Aguytrying, seems you spoke too soon. Rights price crashed to 2 bob today. 4.69 million of them traded

yes i did. They were stuck on 3bob so long, i thought that was it. Could gov be unleashing them slowly. Trades volumes have picked up over the last few days. Now back to the drawing board.
The investor's chief problem - and even his worst enemy - is likely to be himself
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underweight
#380 Posted : Saturday, December 11, 2010 9:28:23 AM
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Joined: 1/25/2009
Posts: 184
Location: For now El-Fashier - Darfur
HOW POSSIBLE IS THIS? Was at Equity Custodial finding out on financing on the right issue. Surprisingly I was advised not to bother buying the rights from the Market and instead apply for as much additional rights as I can afford n am guaranteed full allocation! I smell a slight under/oversubscription. Tue and wed will give a beta picture if its not extended! Out to you guys!
"A bad decision made now is beta that a good one made later!!"
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