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BRITAK IPO: The Money Maker
Rank: Member Joined: 10/25/2010 Posts: 519 Location: nairobi
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I understand that Jimnah Mbaru has shares worth USD 30 million in Bitak...I was wondering now that he is getting into politics...He wants to be a Governor and campaigns are hitting off...what effects will this have on the coming IPO?
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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@lovely. You seem to be having issues with this jimnag guy being interesed in politics. Bet he has been interested and even vied before, what efect did that have on the linked counters, nothing! Maybe if you quote the upcoming TCL 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: Elder Joined: 6/27/2008 Posts: 4,114
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trizher wrote:guru267 wrote:trizher wrote:Aint touchin it.....inakaa soap opera. 9bob for a british co? Think again I hope the view from the sidelines is as good as it will be in the centre of the action... 9bob is below even conservative estimates.. Kwani what price to you want? Thats a huge company kuanza na 9bob...expected over 30Kshs.@ Borsenmakler I aint kiddin. Just an opinion ...too cheap too many decision makers Safcon Season 2 @trizher; after making the comments in bold type, I think you better stay out of the stock market until you learn a little more. 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: New-farer Joined: 5/23/2010 Posts: 95 Location: Tikrit - IRAQ
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mukiha wrote:trizher wrote:guru267 wrote:trizher wrote:Aint touchin it.....inakaa soap opera. 9bob for a british co? Think again I hope the view from the sidelines is as good as it will be in the centre of the action... 9bob is below even conservative estimates.. Kwani what price to you want? Thats a huge company kuanza na 9bob...expected over 30Kshs.@ Borsenmakler I aint kiddin. Just an opinion ...too cheap too many decision makers Safcon Season 2 @trizher; after making the comments in bold type, I think you better stay out of the stock market until you learn a little more.  ...We do it for the $$$$!!
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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Rank: Veteran Joined: 3/25/2011 Posts: 946
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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lovely2010 wrote:I understand that Jimnah Mbaru has shares worth USD 30 million in Bitak...I was wondering now that he is getting into politics...He wants to be a Governor and campaigns are hitting off...what effects will this have on the coming IPO? According to the prospectus, jimnah has 300m shares representing 20% [pre-IPO] and 14% [post-IPO]. At the IPO proce of 9bob, these are worth Sh2.7b. So yes, his holding is worth about US$30m in market value Here are the other shareholders: British American (Kenya) Holdings Limited 452,504,000 = 30.17% [pre IPO] / 21.05% [post IPO] Equity Holdings* 405,000,000 = 27.0% / 18.84% Jimnah M. Mbaru 300,000,000 = 20.0% / 13.95% Benson I. Wairegi 99,496,000 = 6.63% / 4.63% Filimbi Limited 90,000,000 = 6.00% / 4.19% Peter K. Munga 75,000,000 = 5.0% / 3.49% James N Mwangi 75,000,000 = 5.0% / 3.49% Simon I.Wairegi 3,000,000 = 0.20% / 0.14% *Now, does Equity Holdings have any relationship with Equity Bank? I checked the bank's report [2010] and there is no subsidiary by that name... 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: Member Joined: 4/14/2011 Posts: 639
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As the genuine deal will tel you one better keep his money or even better invest it in CIC!Tell you why 1.The company is making losses in its core business i.e underwriting.2.The company made a loss in 2009 only to turnaround year before listing.3.At a price of 9 its already expensive than listed insurance stocks(am talking about pe).4.The market is bearish and likely to stay that way til 2013 thus most probably we wil get it at 5-6 in a month or so after listing.5.The only profitable busines is investing which is not diversified thus wil be hard hit by the bearish market trend.So for those who need money for it am willing to give in exchange for CIC
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Rank: Elder Joined: 11/27/2007 Posts: 3,604
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mukiha wrote:lovely2010 wrote:I understand that Jimnah Mbaru has shares worth USD 30 million in Bitak...I was wondering now that he is getting into politics...He wants to be a Governor and campaigns are hitting off...what effects will this have on the coming IPO? According to the prospectus, jimnah has 300m shares representing 20% [pre-IPO] and 14% [post-IPO]. At the IPO proce of 9bob, these are worth Sh2.7b. So yes, his holding is worth about US$30m in market value Here are the other shareholders: British American (Kenya) Holdings Limited 452,504,000 = 30.17% [pre IPO] / 21.05% [post IPO] Equity Holdings* 405,000,000 = 27.0% / 18.84% Jimnah M. Mbaru 300,000,000 = 20.0% / 13.95% Benson I. Wairegi 99,496,000 = 6.63% / 4.63% Filimbi Limited 90,000,000 = 6.00% / 4.19% Peter K. Munga 75,000,000 = 5.0% / 3.49% James N Mwangi 75,000,000 = 5.0% / 3.49% Simon I.Wairegi 3,000,000 = 0.20% / 0.14% *Now, does Equity Holdings have any relationship with Equity Bank? I checked the bank's report [2010] and there is no subsidiary by that name... is the 5% owner the same with the Equity bank guy? 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: 9/24/2009 Posts: 112
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Sober wrote:mukiha wrote:lovely2010 wrote:I understand that Jimnah Mbaru has shares worth USD 30 million in Bitak...I was wondering now that he is getting into politics...He wants to be a Governor and campaigns are hitting off...what effects will this have on the coming IPO? According to the prospectus, jimnah has 300m shares representing 20% [pre-IPO] and 14% [post-IPO]. At the IPO proce of 9bob, these are worth Sh2.7b. So yes, his holding is worth about US$30m in market value Here are the other shareholders: British American (Kenya) Holdings Limited 452,504,000 = 30.17% [pre IPO] / 21.05% [post IPO] Equity Holdings* 405,000,000 = 27.0% / 18.84% Jimnah M. Mbaru 300,000,000 = 20.0% / 13.95% Benson I. Wairegi 99,496,000 = 6.63% / 4.63% Filimbi Limited 90,000,000 = 6.00% / 4.19% Peter K. Munga 75,000,000 = 5.0% / 3.49% James N Mwangi 75,000,000 = 5.0% / 3.49% Simon I.Wairegi 3,000,000 = 0.20% / 0.14% *Now, does Equity Holdings have any relationship with Equity Bank? I checked the bank's report [2010] and there is no subsidiary by that name... is the 5% owner the same with the Equity bank guy? Peter Munga is the Chairman of Equity Bank while James Mwangi is the CEO of Equity Bank. Equity holdings has no connection with Equity Bank. The name Equity is Universal and can be used by anybody as far as it has another attached name to differentiate it from other entities i.e., Equity Bread, Equity Underwear, Equity Wheelbarrow and Equity Girls. The signature of God runs in all things. Only fools fail to see it and believe in Him. However, others see it even where non exists - now you see where the false pastor comes in.
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Hunderwear wrote:As the genuine deal will tel you one better keep his money or even better invest it in CIC! ?????? GOD BLESS YOUR LIFE
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Rank: Member Joined: 8/14/2009 Posts: 244
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Offer of a share of par value of 10c at Ksh9 = 90*par value. Safcom offer share of par value of 5c at Ksh5=100*par value. Still reading!!!!
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Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya
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can some one give us a link to the prospectus. Is it true the per value is 10 cents? '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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If the par value is really 10 cents i will never put my money in Britak.
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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FUNKY wrote:If the par value is really 10 cents i will never put my money in Britak. Par value has little to do with the value of the share! What you should be asking about is the NAV - net asset value. This tells you what you are actually buying. Par value only tells you how much the share was worth when the company was formed... and a lot of water has passed under that bridge.... 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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BTW: the NAV is Sh4.92 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: Veteran Joined: 4/30/2010 Posts: 1,635
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If the NAV is 4.92/- and they want us to pay such a high premium buy buying it at 9/-. According to me this will be another Eveready and Safaricom. Those who out their money make sure you sell it on the first day and cash in.
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Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
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Rank: Elder Joined: 10/13/2009 Posts: 1,950 Location: in kenya
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mukiha wrote:BTW: the NAV is Sh4.92 4.08 premium sounds too much unless the company offers some good future prospect, which some of the wazuans have cast some serious doubts,but if we were to compare it with other listed companies I think the price is a little better than most of them when it comes To NAV v/s Market price. '......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Where is PKoli? We would appreciate his ideas on all the IPOs which are in the pipeline. Maybe he should start a blog GOD BLESS YOUR LIFE
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