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Kenya airways Right Issue
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mwekez@ji
#301 Posted : Saturday, April 28, 2012 1:02:55 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
QW25091985 wrote:
mwekez@ji wrote:
QW25091985 wrote:
mwekez@ji wrote:
VituVingiSana wrote:
mwekez@ji wrote:

Low demand by retail investors but high demand from institutional investors (including local institutional investors)

Watanzania hawataki mambo ya hii offer

And cold tusker thinks this offer is a flying rip off!

... But wait, Cold tusker also notes that the Net Asset Value of KQ is KES 50!!!

If you note that 50/- is for existing shares to be severely diluted by the Rights Issue, if not taken up


Noted @VVS/*Cold tusker

Assuming full subscription, Net Asset Value = KES 22.60 { (23,143,000,000+ 20,680,373,686)/ 1,938,785,032.00}.


those figures are wrong ! . look at page 66 of the big information memorandum book thats where the total liabilities and assets are .
and there wont be full subscription


@QW, you really need lessons in Fundamental Analysis

Those figures are right and they are just under your nose but you are unable to interprete them (on that page 66 and clause 6.7 (Pertinent Financial Data) on page 26-27)




amnt a fundamentalist but somethings are too obvious .
NAV per share = (total assets – total liabilities) / total number of shares."


Before the rights issue, the NAV was KES 50.13.

With full subscription, the NAV will be KES 22.60.

The rights issue will add KES 20,680,373,686 to total assets and total shares will be 1,938,785,032. Hope you get the logic now.
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VituVingiSana
#302 Posted : Sunday, April 29, 2012 5:43:37 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,376
Location: Nairobi
mwekez@ji wrote:
VituVingiSana wrote:
mwekez@ji wrote:

Low demand by retail investors but high demand from institutional investors (including local institutional investors)

Watanzania hawataki mambo ya hii offer

And cold tusker thinks this offer is a flying rip off!

... But wait, Cold tusker also notes that the Net Asset Value of KQ is KES 50!!!

If you note that 50/- is for existing shares to be severely diluted by the Rights Issue, if not taken up


Noted @VVS/*Cold tusker

Assuming full subscription, Net Asset Value = KES 22.60 { (23,143,000,000+ 20,680,373,686)/ 1,938,785,032.00}.

The info is correct assuming a full subscription. You should discount it for expenses as well.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mwekez@ji
#303 Posted : Monday, April 30, 2012 4:21:35 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
mwekez@ji wrote:
StatMeister wrote:
I got this feeling that KQ will surprise more on profits than rights.


... reading KQ tea leaves


Kenya Airways Releases its Operating Results for the 4th Quarter ended 31st Mar 2012

The total passenger tally, which closed at 832,366 increased by 5.2% on prior year’s resulting to an improved average cabin factor of 68.1% compared to 66.7%.
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VituVingiSana
#304 Posted : Monday, April 30, 2012 6:02:44 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,376
Location: Nairobi
mwekez@ji wrote:
QW25091985 wrote:
mwekez@ji wrote:
QW25091985 wrote:
mwekez@ji wrote:
VituVingiSana wrote:
mwekez@ji wrote:

Low demand by retail investors but high demand from institutional investors (including local institutional investors)

Watanzania hawataki mambo ya hii offer

And cold tusker thinks this offer is a flying rip off!

... But wait, Cold tusker also notes that the Net Asset Value of KQ is KES 50!!!

If you note that 50/- is for existing shares to be severely diluted by the Rights Issue, if not taken up


Noted @VVS/*Cold tusker

Assuming full subscription, Net Asset Value = KES 22.60 { (23,143,000,000+ 20,680,373,686)/ 1,938,785,032.00}.


those figures are wrong ! . look at page 66 of the big information memorandum book thats where the total liabilities and assets are .
and there wont be full subscription


@QW, you really need lessons in Fundamental Analysis

Those figures are right and they are just under your nose but you are unable to interprete them (on that page 66 and clause 6.7 (Pertinent Financial Data) on page 26-27)




amnt a fundamentalist but somethings are too obvious .
NAV per share = (total assets – total liabilities) / total number of shares."


Before the rights issue, the NAV was KES 50.13.

With full subscription, the NAV will be KES 22.60.

The rights issue will add KES 20,680,373,686 to total assets and total shares will be 1,938,785,032. Hope you get the logic now.
Of course for a (Pre-Rights) shareholder who cannot exercise any of his Rights will see 50%+ of the value wiped out since the NAV drops from 50/- per Share to 21/- per Share.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Thiong'o
#305 Posted : Monday, May 07, 2012 9:46:51 PM
Rank: Member

Joined: 10/14/2011
Posts: 661
Airbus and Boeing hit by plane cancellations

US giant Boeing said it had 25 orders of its flagship plane, the 787 Dreamliner, cancelled by airlines without naming who they were.

http://www.bbc.co.uk/news/business-17984492
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VituVingiSana
#306 Posted : Friday, May 11, 2012 1:53:38 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,376
Location: Nairobi
Shareholder Spring - Shareholders Revolt

Discussion on Wazua here
http://www.wazua.co.ke/f...spx?g=posts&t=18759
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by moderator: Friday, May 11, 2012 8:48 AM | Reason: link to one thread
VituVingiSana
#307 Posted : Friday, May 18, 2012 10:07:54 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,376
Location: Nairobi
In the Daily Nation Page 6 of 18 May 2012

Parliament to probe KQ rights issue
BY NATION REPORTER

A parliamentary investigation has been ordered into the just concluded Kenya Airways rights issue after questions were raised on the process.
Deputy Speaker Farah Maalim referred the matter to the parliamentary Finance committee yesterday after a member questioned how a stockbroker was picked and paid Sh100 million.

KQ plans to raise Sh2.7 billion for expansion and acquisition of additional aircraft in the rights issue which was launched by President Kibaki in March.

The government holds 23 per cent of KQ’s total issued capital.

Yesterday, Igembe North MP Ntoitha M’Mithiaru questioned the procedure of selecting stockbrokers for the submission of the provisional allotment letter and whether the service attracted a commission.
He also questioned whether the submission of the provisional allotment letter was a separate service from the advisory services provided by transaction adviser.

The transaction adviser in the rights issue was CFC Stanbic Bank Limited with CFC Stanbic Financial Services Limited as the lead transaction stockbroker. Standard Investment Bank Ltd was the lead sponsoring stockbroker.

Finance assistant minister Dr Oburu Odinga said the mandate for submission of the provisional allotment letter was with the lead sponsoring brokers who were competitively appointed by KQ.

Mr Maalim directed the Finance committee to report back to the House in a week’s time.

Sh100m Millions of shillings stockbroker was paid by Kenya Airways
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Friday, May 18, 2012 10:09 AM | Reason: Not specified
Cde Monomotapa
#308 Posted : Friday, May 18, 2012 12:17:41 PM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Great. Another waste of tax payer money. Parly committees.
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ralp_mutu
#309 Posted : Friday, May 18, 2012 12:25:51 PM
Rank: Member

Joined: 3/26/2012
Posts: 232
Location: Nairobi
Cde Monomotapa wrote:
Great. Another waste of tax payer money. Parly committees.

Sad True story
My folks told me that my very first word was 'billionaire'
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kyt
#310 Posted : Friday, May 18, 2012 3:23:06 PM
Rank: Elder

Joined: 11/7/2007
Posts: 2,182
Applause Applause
ralp_mutu wrote:
Cde Monomotapa wrote:
Great. Another waste of tax payer money. Parly committees.

Sad True story

Applause Applause Applause Applause where were they before the money was paid, why did they not stop it then.
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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