Wazua
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BRITAK PROSPECTUS
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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The link on the website is not working for those who want the report BRitak compared to its peers in PDF reach me here admin@contrarianinvestingkenya.info
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Rank: Veteran Joined: 11/11/2006 Posts: 972 Location: Home
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Dear oh dear. Just went through the prospectus, a very detailed 220 page account of the company. Well structured and thoughtfully laid out. Now for the bad news as some have said. Net profit forecast for dec 2011, 1 billion. 2010 2.7 billion. Profit after tax for the four months ended april 2011 460 million, april 2010 1.36 million. Drop attributed to fair value of investment income, due to n.s.e. Another eye opener was forecast eps for dec 2011, 0.48. Forecast pe dec 2011, 13. All in all, this is one for longterm investors. Long term things look pretty good, as for the ipo..... The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent? The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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Aguytrying wrote:@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent? Lol thats what I saw...in that case a profit warning will be in order 
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Rank: Member Joined: 9/21/2006 Posts: 422 Location: Nairobi
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Aguytrying wrote:@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent? Its still 11 point something %, i.e British American Insurance owns 6 point something percent while British american investments comapny owns 4point something percent. These totals to 11 point something percent. You know British American Insurance is owned by British American Investments Company?
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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Aguytrying wrote:@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent? This is certainly good for Equity Bank. At least we know that one of their top shareholders is not bailing out. I however think it is negative for BA. Their fortunes remain too closely tied to the EB share price.
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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BTW @the deal. The 6.6% you quoted, was that what you (mis)read or what they briefed you? Just in case they have sold out after the publication of the prospectus! the deal wrote:Aguytrying wrote:@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent? Lol thats what I saw...in that case a profit warning will be in order
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Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery
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mwanahisa wrote:BTW @the deal. The 6.6% you quoted, was that what you (mis)read or what they briefed you? Just in case they have sold out after the publication of the prospectus! the deal wrote:Aguytrying wrote:@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent? Lol thats what I saw...in that case a profit warning will be in order No big deal that day they presented their stake in EQTY as 6% but they didnt specify weather it was for Britak insurance or Britak the holding company plus the prospectus wasnt done that time so I will go with the prospectus.
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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the deal wrote:No big deal that day they presented their stake in EQTY as 6% but they didnt specify weather it was for Britak insurance or Britak the holding company plus the prospectus wasnt done that time so I will go with the prospectus. Awwwright!
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Rank: Member Joined: 7/13/2010 Posts: 160 Location: rift Valley-Naks
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I have checked on the prospectus and something i have noticed is that they are heavily invested in equities.Also n part of the profits they declared last year(about 3.56b)in investment income is realized gains in equities(this could be the strategic stake they hold in EQT & HF).Their comprehensive income also includes about 2.5b from revaluation of equities.Growth in premiums was about 17% as at last year and most of it came from the general insurance business not from life insurance where they control the largest market share.(Their main business is not doing so well). May be it could make a good long term investment given that they are getting into the property market. ''i can calculate the motion of heavenly bodies,but not the madness of people''-Isaac Newton
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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TCL had the cabl profits up their sleeve, i wonder what britak have. 62% drop in profits. Yikes! But its an ipo, you never know. Mwanahisa, do you think it will tank or not, still worth a play? I've got cold feet due to the forementioned. 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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@AGT, I have still not read the prospectus as yet. I don't think this will be a hot IPO and I will not be surprised if it tanks soon after listing. I am looking at a number of other options in the market and have started deploying my reserve. I have not completely discounted putting in some money into BA, but If I do, it will be fairly limited and a fly by night operation - out the first day of trading like I would have done on TCL today! Aguytrying wrote:TCL had the cabl profits up their sleeve, i wonder what britak have. 62% drop in profits. Yikes! But its an ipo, you never know. Mwanahisa, do you think it will tank or not, still worth a play? I've got cold feet due to the forementioned.
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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Aguytrying wrote:TCL had the cabl profits up their sleeve, i wonder what britak have. 62% drop in profits. Yikes! But its an ipo, you never know. Mwanahisa, do you think it will tank or not, still worth a play? I've got cold feet due to the forementioned.
Tafakari, usiogope...Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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WASTE YOUR MONEY HERE! Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 6/2/2008 Posts: 1,438
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mwanahisa wrote:I have not completely discounted putting in some money into BA, but If I do, it will be fairly limited and a fly by night operation - out the first day of trading like I would have done on TCL today!
Now, wouldn't that have been nice. Pity, I didn't have any TCL shares.
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