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CFC Insurance Holdings - Share Price to tumble!
Rank: Elder Joined: 6/2/2008 Posts: 1,438
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@the deal. I am also a shareholder of CFC Stanbic Holdings, although with a rather small stake. I also got the Information Memorandum that Mukiha is referring to.
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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@ the deal. I hope we can now put this matter to rest and watch the price action over the next few days.
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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Something you may want to ponder...
Page 22 (7.7.1) of the Information Memorandum states. "The price per share of KSH 6.84 paid by Liberty was negotiated on an arm's length basis for a significant minority shareholding."
I guess some of us are happy to pay more than twice what a knowledgeable investor like Liberty were willing to pay.
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Rank: Member Joined: 4/17/2009 Posts: 194
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I can see it went down a bit. Lakini, as I stated earlier, iko na wenyewe. They will be there to pick up the stray shares tomorrow.
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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There's just something about share splits, rights issues, Ipo, Listing by introduction that makes investors get into euphoria mode and for this reason alone ill be speculating in Ipo's. Everyone knows this,so what is new? The uncertainty that always lies therein...... The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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Iborian wrote:I can see it went down a bit. Lakini, as I stated earlier, iko na wenyewe. They will be there to pick up the stray shares tomorrow. I think the company has been trading on too thin a volume for us to make meaningful judgement on the stock.
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Rank: Member Joined: 3/20/2008 Posts: 503
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[quote=mwanahisa]As I type this, I am looking at the very last page of the Advertiser's Announcement of the said date. Page F.
Page A has the results of CFC Stanbic Bank;
Page B - Stanbic Investment Management Sevices; &
CFC Stanbic Financial Services;
Page C - CFC Stanbic Holdings;
Page D - CFC Life;
Page E - The Heritage Insurance Company; & finally
Page F - CFC Insurance Holdings.
@Mwanahisa, Let me save you the trouble...though I still think some may not believe this.
Can Wazuans interested in the results of CFC Insurance Holdings Ltd as at 31 December 2010 (page F as per Mwanahisa's post above) let me know and I shall sambaza by email.
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Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi
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Aguytrying wrote:There's just something about share splits, rights issues, Ipo, Listing by introduction that makes investors get into euphoria mode and for this reason alone ill be speculating in Ipo's. Everyone knows this,so what is new? The uncertainty that always lies therein...... CFC thing was actually a "spin-off"
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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xxxxx wrote:[quote=mwanahisa]As I type this, I am looking at the very last page of the Advertiser's Announcement of the said date. Page F.
Page A has the results of CFC Stanbic Bank;
Page B - Stanbic Investment Management Sevices; &
CFC Stanbic Financial Services;
Page C - CFC Stanbic Holdings;
Page D - CFC Life;
Page E - The Heritage Insurance Company; & finally
Page F - CFC Insurance Holdings.
@Mwanahisa, Let me save you the trouble...though I still think some may not believe this.
Can Wazuans interested in the results of CFC Insurance Holdings Ltd as at 31 December 2010 (page F as per Mwanahisa's post above) let me know and I shall sambaza by email. Send it to Info@ Human Brain For Sale.com Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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mukiha wrote:xxxxx wrote:[quote=mwanahisa]As I type this, I am looking at the very last page of the Advertiser's Announcement of the said date. Page F.
Page A has the results of CFC Stanbic Bank;
Page B - Stanbic Investment Management Sevices; &
CFC Stanbic Financial Services;
Page C - CFC Stanbic Holdings;
Page D - CFC Life;
Page E - The Heritage Insurance Company; & finally
Page F - CFC Insurance Holdings.
@Mwanahisa, Let me save you the trouble...though I still think some may not believe this.
Can Wazuans interested in the results of CFC Insurance Holdings Ltd as at 31 December 2010 (page F as per Mwanahisa's post above) let me know and I shall sambaza by email. Send it to Info@ Human Brain For Sale.com Got it; thanks. Things are not as rosy.... In 6mo to June 30 2010, CFCIH made 411m PBT from 2.168b in net earned premiums.... Then, come the end of the year (31/12/2010), the PBT came to only 482m from 3.53b in premiums. That is; between 1/7/10 and 31/12/10, sales went up by 63% and PBT rose by only 17% Now why people are buying it at 15bob? Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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I will be damned. It continues to defy reason to trade at 15. But good luck to those who are buying. I fear for you.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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I was waiting for it at Sh 5. Current price is not justified given the low penetration levels of insurance products i.e. many providers fighting for a cake that is not quite expending! If CFCIH introduces some killer products that will encourage insurance uptake, i might consider. Life is short. Live passionately.
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Rank: Chief Joined: 1/3/2007 Posts: 18,223 Location: Nairobi
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This is one stock I would short... If I could! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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While you expect it to fall its rallyyyyyyiiing.
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Rank: Elder Joined: 2/10/2007 Posts: 1,587
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sparkly wrote:I was waiting for it at Sh 5.
Current price is not justified given the low penetration levels of insurance products i.e. many providers fighting for a cake that is not quite expending!
If CFCIH introduces some killer products that will encourage insurance uptake, i might consider. This is one stock that has really baffled me. I expected it to settle around KES 10.
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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I also don't understand why people are paying over 10 for it. Anyway, I put in my sell order at 16 and I think it was taken up. waiting confirmation SMS from CDSC at 4pm.... Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Im not too surprised myself, these ipo's make investors euphoric, just you wait for the axe to drop. Unless of course they know some thing we dont. Looking at it, before the cfc stanbic holdings share got this dividend en speci it was trading in the 70's. 16+58= 74. Meaning even if you sell your CFCIH now at 16 (which is a good idea), you'll have to wait for the cfc stanbic share to regain to around 70, or there abouts to realise your true profits. Its interesting to watch its like all the attetion of cfc has gone to cfcih, while i logically thought it should be the other way round. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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the deal wrote:While you expect it to fall its rallyyyyyyiiing. @the deal. Seems you got me there. But I would never have bought it at more than Kshs 10, unless some new facts have come to the fore. So far I am not aware of any.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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@hisah well captured. @aguy i also expected real value to be unlocked in the bank whose earnings though mediocre have been consistent. It is the insurance business that has been causing the roller coaster. Life is short. Live passionately.
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