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co-op bank ipo prospectus
Rank: Elder Joined: 11/27/2007 Posts: 3,604
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there are 700 million shares on issue at 14 bob each. Any more info on this... 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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Rank: Member Joined: 2/12/2008 Posts: 345
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Usually one thread does the trick don't u think? Gues u are tryin post via celphon.
' I have heard of You,o Lord. Now mine eyes have seen thee!! Baal-Perazim.. The Lord of the Breakthrough!!'
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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i can see you have read the psychology of the people here. how do you rate this IPO A likely impossibility is always preferable to an unconvincing posibility. 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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Rank: Member Joined: 2/12/2008 Posts: 345
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Personally am not fundamentally interested in coop. Plus i had an annual investment plan that didn't include IPO's..that way the significance or lack there off is a bonus to my portfolio. I trade..relatively alot too. Like Safcom my take is that any one who's never invested befor..buy coop..go thro the whole cycle and experience the euphoria..that way u kind a get initiated into stocks and we can share rationally and logically..and throw out myths of becomin millionaires over time. I bought into Safcom..for the one reason everyone was plannin to boycot! Gues i was wrong and kenyans proved to be great liars. Cooperative ..am out..so can't even rank it. History repeats itself. That's jus me. I don't need convincing.i won't buy coz i won't buy.
' I have heard of You,o Lord. Now mine eyes have seen thee!! Baal-Perazim.. The Lord of the Breakthrough!!'
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Rank: Member Joined: 10/5/2007 Posts: 91
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most info on Coop IPO is in public domain; 700m new shares at 14 to raise Ksh 9.8bn Looking at their accounts it's clear a 100:1 split will done prior to the IPO. Total shares 3.6bn - twice Mumias,and nearest to SCOM!!!! Think...personally I wont touch it..EPS will be in cents hence no div
Hey...Somebody might make a killing out of me...?!
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Rank: Member Joined: 2/12/2008 Posts: 345
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...na kwa hayo machache.... See you post ipo!
' I have heard of You,o Lord. Now mine eyes have seen thee!! Baal-Perazim.. The Lord of the Breakthrough!!'
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Rank: Elder Joined: 2/7/2007 Posts: 11,935 Location: Nairobi
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Split of 100:1......???.....3.6B shares....???......second only to Safcom...???......I Nothing great was ever achieved without enthusiasm.
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Rank: Member Joined: 12/14/2006 Posts: 12
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means they are offloading only 20% of 3.6B shares = 700 million shares totalling Shs 9.8B
Does it mean that they value Coop bank at 49B capitalisation
See table below and judge for yourself - I am afraid like all the other!!
Source NSE daily prices,4 Sept 2008
no. Shares Issued
Capitalisation
Safaricom Ltd Ord.0.05
40,000,000,000
210 Billion
East African Breweries Ltd Ord 2.00
790,774,356
144 Billion
Equity Bank Ltd Ord 5.00
370,277,702
94 Billion
Barclays Bank Ltd Ord 10.00
1,357,884,000
84 Billion
Bamburi Cement Ltd Ord 5.00
362,959,275
67 Billion
Kenya Commercial Bank Ltd Ord 10.00
2,217,777,777
62 Billion
Standard Chartered Bank Ltd Ord 5.00
271,967,810
51 Billion
KenGen Ltd. Ord. 2.50
2,198,361,456
47 Billion
Coop Bank 3,600,000,000 shares issued 49 Billion
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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This is how D&B work because they mistakingly believe that more shares equals more commission. Personally,I'll only take part in an IPO if its organised along the lines of what AK did. Scarcity makes things valuable. www.mjengakenya.blogspot.comSehemu ndio nyumba
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Rank: Member Joined: 8/15/2008 Posts: 26 Location: Kampala
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Any body has the Prospectus already? where can i get one on line? Will investing in Coop bank not be as tragic as Scom given that the issued shares are close yet IPO price is almost thrice. Whats the effect of foreigners in IPO's? All these i need answers before prospect can be estimated.
Supply of other stocks sold to fund coop IPO purchase may push other counters down and better purchases than coop.
Watch out Never touch a Live Wire.
I may be Subdued but am not Vanquished.
Dont work Hard,work Smart
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Rank: Member Joined: 6/5/2008 Posts: 174
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The fear among Sk members against this IPO points to an under-subscription. I have now discovered the general behaviour pattern of Kenyans: From the most optimistic people in the world 2002-to the most pessimistic 2008. From most optimistic investors in may 2008(Safcom IPO) to the most pessimistic September 2008(Coop IPO. (Look at the pre-safaricom posts at sk forum and then the co-op ones) Lesson: I will go with the herds this time,I will not buy the Coop IPO unless as Mainat has said there is restriction to the number of people who will be able to buy the shares the Acsess Kenya way . For bookkeeping and bank loan interest recalculation try us:niando.becia@gmail.com
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Rank: Member Joined: 12/7/2006 Posts: 44
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@All: Here is some constructive discussion some sk members engaged in [kwanza lawman] sometime back to help you in choosing whether to get in or not .
Me I`m not getting in I`ve made the decision based on the assumption th market will recover early next year and a comparison of the no of shares in other banks listed,captalization and their price and the likely price range of co-op post ipo.
Compare it and the rest like Lawman you will realize why it is good to be fearful.
Everybody has a plan `till they get hit -Mike Tyson
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Rank: Member Joined: 3/17/2008 Posts: 567 Location: Nairobi
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Ill have a look at the prospectus and if their earnings valuation makes sense I will dive in - head first. I will likely get 100% allocation by the look of the posts here.
Be greedy when others are fearful,be fearful when others are greedy.
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Rank: Member Joined: 7/3/2008 Posts: 12
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@all I guess most valuation of securities based on PE take mkt PE @20. Now my simple calculations show that at a price of KES 9.5 and half year profit at 1.7B. i.e 3.4B annualised. Assume an after tax profit of 2.5B. EPS would be 0.69. And the PE would stand at 13-14. Now thats not a bad buy. Hope to get 100% allocation guys and hold. That way on market recovery am sure to get a price of over 13 bob or more. Not sooo bad! over to you guys he who fights himself is a great man The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do. - Warren Buffett
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Rank: Elder Joined: 4/9/2008 Posts: 2,824
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niko ndani kwa hii IPO....kichwa,miguu,mikono++......i refused to participate in the safcom coz of large numbers....but 700m is not a big number for a bank like co-op.........so am in++ If you have money that you expect to start using in five years,it does not belong in stocks. When I have money, I get rid of it quickly, lest it find a way into my heart.
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Rank: Member Joined: 12/7/2006 Posts: 44
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@mseiya: Don`t forget the bear if on 22 dec the situation will be still the same it will only rise for a few weeks then drop below IPO price.
@kingfisher: The total shares are 3.6 billion not 700million,hizo zao bado ni nyingi just a few examples kcb got 2.2 billion shares and baclays 1.3 billion and by the way they will only be second to safcom in total number of shares among the listed companies at nse.
Everybody has a plan `till they get hit -Mike Tyson
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Rank: Member Joined: 7/3/2008 Posts: 238
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Closing remarks:
1.Let the IPO go on
2.Don't buy now nor in December
3. Wait for Jan after kids go back to skul.
4. BUY in Feb @ 2.5!
my 2 cents (sorry).
wish is yesterday,hope is tomorrow.. today we make or break!
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Rank: Member Joined: 7/22/2007 Posts: 7
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Counters dorminated by retail investors starting with Safaricom are known to be non performers,will coop be different? 66% of the IPO shares goes to retail investors. I tend to believe those predicting lower than IPO price in January unless something good happens.With the current inflation,poor economic outlook,retail investors will be desperate to dispose their holdings to meet their school fees and other basic needs in January.
Its time to wake up young people -Lets invest
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Rank: Member Joined: 4/24/2008 Posts: 1
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This is one IPO I like. The big brothers know that Kenyans are shying off from it. For those not buying lets talk after Obama's nomination (hope he sails through).
Am crossing my fingers for those millions. Our market does not respond to fundamentals,rather forces of dd and ss..... though we can debate about it........ but keep doing your calculations. A lot of retail investers dont care about P/E ratios etc.
That's why the rich will always dominate this market because they buy at a time like now,when everyone is cursing - they are laughing all the way. Then when the shares start appreciating they get out make their billions and leave you scrolling across trying to see how many cents you have gained. The rich donminate the BODs and guess what,they will always make favourable decisions for 'themselves'.
Anyone recalls the monkey story? Most of us are now acting like those villagers.
But lets see how much the monkey will fetch.
Better to work smart than work hard
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Rank: Member Joined: 7/7/2006 Posts: 51
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I will be buying in to the offer.
Coop is a serious bank.....remember its is the duty of an intelligent investor to acquire good companies at discounted prices.
'I never see what has been done; I only see what remains to be done.'
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