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Transcentury IPO
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selah
#21 Posted : Tuesday, July 05, 2011 3:08:06 PM
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Joined: 10/13/2009
Posts: 1,950
Location: in kenya
The shares will be listed on July 14 @ 50/= per share.

http://www.bloomberg.com...nairobi-ceo-says-1-.html
'......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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the deal
#22 Posted : Tuesday, July 05, 2011 3:13:48 PM
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Joined: 9/25/2009
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Location: Windhoek/Nairobbery
The title of this thread is misleading...there is no IPO...their listing by introduction.
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FUNKY
#23 Posted : Tuesday, July 05, 2011 3:24:02 PM
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Joined: 4/30/2010
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@ the deal what do you say about the price of 50/- for transcentury?
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the deal
#24 Posted : Tuesday, July 05, 2011 3:59:35 PM
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FUNKY wrote:
@ the deal what do you say about the price of 50/- for transcentury?

I have to look at their numbers first...smile
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BGL
#25 Posted : Tuesday, July 05, 2011 4:07:30 PM
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I also got their 188 page info memorandum. But a P/E of 38.8 is quite too high.
Hii ni ukora
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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selah
#26 Posted : Tuesday, July 05, 2011 4:15:18 PM
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How come they have not released a prospectus and the introduction is just next week.

This is what I know about the company

pretax profit in 2009 was 234M
2010 was 468M

Most of their investment underperformed although I hear RVR has increased its commuter train fares by about Ksh.15/= starting next week.
'......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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mwekez@ji
#27 Posted : Tuesday, July 05, 2011 4:18:31 PM
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Joined: 5/31/2011
Posts: 5,121
BGL wrote:
I also got their 188 page info memorandum. But a P/E of 38.8 is quite too high.
Hii ni ukora


Pls share the info memorandum or send me on 2mwekezaji@gmail.com
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BGL
#28 Posted : Tuesday, July 05, 2011 4:58:29 PM
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mwekez@ji wrote:
BGL wrote:
I also got their 188 page info memorandum. But a P/E of 38.8 is quite too high.
Hii ni ukora


Pls share the info memorandum or send me on 2mwekezaji@gmail.com



Download it from here http://www.transcentury....randum%20July%202011.pdf
History will not remember you for your IQ. It will remember you for what you did. “Genius is 1 percent inspiration, 99 percent perspiration.” Thomas Edison
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erifloss
#29 Posted : Tuesday, July 05, 2011 6:46:11 PM
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Joined: 6/21/2010
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Location: Nairobi
A PE of over 35 is outrageous and with the oil & other commodity prices up, being in the infrastructure & cable manufacturing industry is not advisable unless you are investing on 'prospects' of which I'm not sure of.
RVR to me is still a white elephant which even Centum had to run away from.
Kewberg is just but another story!
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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drake
#30 Posted : Tuesday, July 05, 2011 7:08:53 PM
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Joined: 8/8/2009
Posts: 170
Who arranged the Convertible Bond?
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Mainat
#31 Posted : Wednesday, July 06, 2011 8:00:05 AM
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Joined: 11/21/2006
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Expensive. Prime asset is still EA Cables which has seen better days.
Interesting that the original G29 and other shareholders will be allowed to sell up to 50% of their stake before the 2012 general election.

I am seeing a pattern here...
Sehemu ndio nyumba
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the deal
#32 Posted : Wednesday, July 06, 2011 8:44:47 AM
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Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Its not overpriced as it seems...if u use other valuation metrics apart from PE...once again throw away that stupid IM and look at their AR...my beef is the source of their 2010 profits...i.e they sold their stake in a Zambian metal company at Sh130M having bought it at Sh420M, also a piece of land they bought at Sh46M was worth Sh416M in 2010...SMH!!!!
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Cde Monomotapa
#33 Posted : Wednesday, July 06, 2011 9:00:17 AM
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Joined: 1/13/2011
Posts: 5,964
My deepest concern about TC is their large exposure to the cables business as the base metals have been on a mad rally thanks to BRIC making their products un-competitive. They should in future invest in a copper mine to secure their raw materials cheaper!!
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selah
#34 Posted : Wednesday, July 06, 2011 9:28:05 AM
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My biggest concern is that 2 companies with close ties to the Kibaki administration are listing one yrs b4 his term ends,when the stock exchange is in a bear run and the economic growth prospect showing signs of contracting.With prices which to me seem over priced.
'......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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QD
#35 Posted : Wednesday, July 06, 2011 9:51:04 AM
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There seems to be some smoke that may end up being fire, why the listing of Britac & TC at this time of the bearish market? seams the directors have to off load not necessarily to make money for them & the company but to reduce holding.
..This may lead poor performance and given the lag of election next year, when one goes in be ready to wait for no less than 18 months.
Just my two cents
The problem with the world is that the intelligent people are full of doubts while the stupid ones are full of confidence
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hisah
#36 Posted : Wednesday, July 06, 2011 10:01:19 AM
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Joined: 8/4/2010
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50% owners cash out... No need to look at P/E or other valuations. Why sell 50% if there is more juice to squeeze...Think
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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youcan'tstopusnow
#37 Posted : Wednesday, July 06, 2011 10:01:34 AM
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Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
selah wrote:
My biggest concern is that 2 companies with close ties to the Kibaki administration are listing one yrs b4 his term ends,when the stock exchange is in a bear run and the economic growth prospect showing signs of contracting.With prices which to me seem over priced.


QD wrote:
There seems to be some smoke that may end up being fire, why the listing of Britac & TC at this time of the bearish market? seams the directors have to off load not necessarily to make money for them & the company but to reduce holding.
..This may lead poor performance and given the lag of election next year, when one goes in be ready to wait for no less than 18 months.
Just my two cents



Not to mention Deacons...

Hata I heard Raila was planning to list Kisumu Molasses ...
GOD BLESS YOUR LIFE
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Sober
#38 Posted : Wednesday, July 06, 2011 10:02:23 AM
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Joined: 11/27/2007
Posts: 3,604
i am buying......
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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drake
#39 Posted : Wednesday, July 06, 2011 10:14:34 AM
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Joined: 8/8/2009
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Who arranged the Convertible Bond?
Who arranged the Convertible Bond?
Who arranged the Convertible Bond?


http://www.bankrate.com/...nterest-rates/libor.aspx
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mwekez@ji
#40 Posted : Wednesday, July 06, 2011 10:15:24 AM
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Joined: 5/31/2011
Posts: 5,121
On page 147 of the IM, TCL have indicated that they expect to get over 99% (1796/1809) of their profit in 2011 from power division in the following way:

Quote:
Tripling of capacity in East Africa Cables, tripling of capacity at Tanelet, 50% capacity increase at Kewberg as well as increasing commodity prices.


I think they are unrealistic.

The good thing with listing by introduction is that even though they are talking of a price of 50, we are at liberty to bid at the price we think the company is worth. I will be bidding at a price that is way way way lower
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