Rank: Member Joined: 12/8/2009 Posts: 274 Location: Ltktk
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Bugatti wrote:TUPAC=They will as well get 78% and wait for April Approval.If approval by shareholders succeeds they allocate you 22%.
Sawa Mzee? @buggatti thats ok. hiyo si mbaya. lets wait and see. ...things fall apart...the centre cannot hold..mere anarchy is loosed upon the world...w b yeats
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Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
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@Bugatti, thanks. Waiting till April to know the fate of my refunds or share allocation for the 22% is too much of a time....... Wa! ... and they earn interest on the same?????????! Grrrrrrrrrrrrrrr!
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Too many special AGMs from CiC within a short period of time! Since CiC motto is 'we keep our word', they should announce the results, refund our money if we oversubscribed and stop the idea of trying to dilute the shares. We can buy the few shares over the counter as before. This is the only way we will a Co-op bank equivalent when they list.
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Rank: Veteran Joined: 9/5/2007 Posts: 627
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@PKoli: That is what worries me about CIC. They seem to think all problems are solved via AGMs! The wazees are getting greedy now. I understand they were extremely skeptical about the issue and had projected less than 80% subscription for the rights issue. I still wonder why a company with such hefty ambitions has not appointed a PRO leaving the Company Secretary to handle publicity!
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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@Sasha,
I hope with Co-op buying a huge chunk of the shares, we will finally have some robust leadership being injected in CiC. Nelson Kuria has done a good job, he requires the board team that can manage a modern dynamic insurance company.
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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With over the counter buying, how do buyers and sellers come to an agreement. Are they likely to split the cic shares on listing to the nse? The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
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...when you visit brokers' offices or wherever they are sold or bought from you will find sell orders at certain prices placed by sellers...alternatvely sellers will find buy orders placed at certain prices just like NSE,.... except for the automation at NSE.
For the spliting...isn't it not too early to ask?
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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@All, Which brokers offices can I use to check on the sell orders if I'm interested in buying?How will I keep track of the shares such that they are not sold without my consent? Who has an idea of the average going rate currently over the counter?I need to buy some more. Formally employed people often live their employers' dream & forget about their own.
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Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
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@birdman, wil respond to your second query, all OTC shares are in forms of Share Certificates so you will need to personally surrender the same if you wish to sell........
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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bird_man wrote:@All,
Which brokers offices can I use to check on the sell orders if I'm interested in buying?How will I keep track of the shares such that they are not sold without my consent?
Who has an idea of the average going rate currently over the counter?I need to buy some more. @bird_man, Suntra and African Alliance have been dealing in the shares. I am Kingdom securities too will trade in the shares through OTC
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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@PKoli & Layman....thanks.Anyone with idea of the average prices? Formally employed people often live their employers' dream & forget about their own.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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bird_man wrote:@PKoli & Layman....thanks.Anyone with idea of the average prices? The register is now closed until they finish the rights issue and prepare share certificates. Before the rights issue, the share was going for KES 38. The share was KES 27 rights price. I guess, it will be slightly over KES 30 when they start trading. I will offer mine at no less than KES 50 a piece.
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Rank: Veteran Joined: 11/2/2006 Posts: 1,206 Location: Nairobi
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@PKoli....I only applied for a few at 27sh.I hope I will get some more at less than 40sh.It is a stock I would love to accumulate before listing on NSE(I hope 2013) or so....but with guys like you at 50sh!Tunaomba serekali ingilie! Formally employed people often live their employers' dream & forget about their own.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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bird_man wrote:@PKoli....I only applied for a few at 27sh.I hope I will get some more at less than 40sh.It is a stock I would love to accumulate before listing on NSE(I hope 2013) or so....but with guys like you at 50sh!Tunaomba serekali ingilie! @bird_man Polepole mzee, you will be there. I started buying CIC during their first private placement. I have been adding slowly and so I have to reap handsomely from my patience. Whereas 50 bob looks high, going forward, we might be heading to KES 100 factoring in the rights shares.
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Rank: Elder Joined: 9/29/2006 Posts: 2,570
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Was there a timeline on when to declare the results of the rights issue????? The opposite of courage is not cowardice, it's conformity.
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Rank: Member Joined: 10/7/2010 Posts: 251 Location: nairobi
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Rank: Member Joined: 10/26/2008 Posts: 380
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CIC PBT up 117% from Sh277m to Sh605m.
PAT up from Sh236 millionSh486 million."
If we take Total Income to mean PAT, that is impressive growth. Assuming about 50m shares, that is an EPS of about 9.72shs. At the Rights price of Sh.27, then we have a P/E ratio of 2.78.
Even better, they will be looking to list in 2012.
I like this share.
I have been looking for the results in the newspaper today, couldnt see them, anyone with a link to the actual results (not what nation said about them)..
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Co-op Bank buys CIC Insurance stake on the cheap http://www.businessdaily...-/14ctel8z/-/index.html
The revelation is set re-ignite debate among the firm’s shareholders who had argued that the bank had received preferential treatment while negotiating the deal to acquire the additional shares. Co-operative bank, it turns out, cut itself a remarkably good deal by buying a share at Sh22.50 yet the insurance firm had been freshly valued at Sh35 GOD BLESS YOUR LIFE
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Mkimwa wrote:CIC PBT up 117% from Sh277m to Sh605m.
PAT up from Sh236 millionSh486 million."
If we take Total Income to mean PAT, that is impressive growth. Assuming about 50m shares, that is an EPS of about 9.72shs. At the Rights price of Sh.27, then we have a P/E ratio of 2.78.
Even better, they will be looking to list in 2012.
I like this share.
I have been looking for the results in the newspaper today, couldnt see them, anyone with a link to the actual results (not what nation said about them).. This is fantastic results for CIC. I do not regret having jumped in earlier on and it looks I will stay in a little longer. I do not think they have published results, or have audited results yet.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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youcan'tstopusnow wrote:Co-op Bank buys CIC Insurance stake on the cheap http://www.businessdaily...-/14ctel8z/-/index.html
The revelation is set re-ignite debate among the firm’s shareholders who had argued that the bank had received preferential treatment while negotiating the deal to acquire the additional shares. Co-operative bank, it turns out, cut itself a remarkably good deal by buying a share at Sh22.50 yet the insurance firm had been freshly valued at Sh35 I think in the whole equation CIC stands to benefit since they will not be required to open costly branches. They will simply use Coop bank's expansive branch network to sell their products. Given that Coop is planning for expansion outside the country, this will serve CIC very well. As a shareholder of CIC, I have nothing to complain about the deal.
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