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Kenya airways Right Issue
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StatMeister
#371 Posted : Friday, June 08, 2012 12:25:47 PM
Rank: Veteran

Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
Pesa Nane wrote:
KQ rights issue results. The nyau is out of the kiondo.

http://rightsissue.kenya...N%20FULL%20Pg.%20Ad.%20(26.6x33.5cm).pdf


http://rightsissue.kenya...20%2826.6x33.5cm%29.pdf

Dreamliner? Cessna??
A bad day fishing is better than a good day at work
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mwekez@ji
#372 Posted : Friday, June 08, 2012 1:08:46 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
StatMeister wrote:
Pesa Nane wrote:
KQ rights issue results. The nyau is out of the kiondo.

http://rightsissue.kenya...N%20FULL%20Pg.%20Ad.%20(26.6x33.5cm).pdf


http://rightsissue.kenya...20%2826.6x33.5cm%29.pdf

Dreamliner? Cessna??


etihad is boarding, remember?
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Kausha
#373 Posted : Friday, June 08, 2012 1:38:59 PM
Rank: Member

Joined: 2/8/2007
Posts: 808
Could the guy who was in court return because this is surely going sub 10 and perhaps the Honorable judge could see what the guy was saying.

What I find wrong is government breaking rules with impunity. GoK and KLM according to the IM were to participate relative to the performance of the market so that they retain their 23% and 27% shareholding respectively. KLM as you would expect has kept their end of their bargain. GoK on the other hand didn't think it was good manners to amend the IM before adding more money. This impunity being brought to the market can only send the markets to the basement.

I wonder what the KQ advisor must be thinking now. They surely were off tangent to think they would raise 70% when all the news coming from Tito's desk has been non exciting.
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VituVingiSana
#374 Posted : Friday, June 08, 2012 1:53:23 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,376
Location: Nairobi
mwekez@ji wrote:
VituVingiSana wrote:
guru267 wrote:
VituVingiSana wrote:
but don't you like Longhorn? You have been raving about it's prospects! Laughing out loudly Laughing out loudly Laughing out loudly

I repeat. I have never been interested in owning longhorn.. i was merely pointing out it will not follow the direction of TCL...
Anyway, I find it pricey & wish I could short it... but a pity it's not allowed! What I see is a price that will stagnate since the Sellers are limited while most buyers will stay away unless it goes sub-10

Even if shorting was allowed, you would still be handicaped coz there are no buyers. For instance, total demand today is 2,300 shares against a supply of 160,000 shares. True, Longhorn belongs to sub 10
Well, there is always a sucker! My concern would be the Short Squeeze!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Aguytrying
#375 Posted : Friday, June 08, 2012 1:54:56 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
this will reduce the dilution slightly. but the fate remains the same. it seems that everyone other than gov. klm ifc shunned the/their rights
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#376 Posted : Friday, June 08, 2012 1:57:29 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,376
Location: Nairobi
Kausha wrote:
Could the guy who was in court return because this is surely going sub 10 and perhaps the Honorable judge could see what the guy was saying.

I think the judge erred & will probably 'defend' his position however silly it is. The quality of judges for business matters is lacking. Vetting required.

What I find wrong is government breaking rules with impunity. GoK and KLM according to the IM were to participate relative to the performance of the market so that they retain their 23% and 27% shareholding respectively. KLM as you would expect has kept their end of their bargain. GoK on the other hand didn't think it was good manners to amend the IM before adding more money. This impunity being brought to the market can only send the markets to the basement.

CMA giving exemptions like candy.

I wonder what the KQ advisor must be thinking now. They surely were off tangent to think they would raise 70% when all the news coming from Tito's desk has been non exciting.

The 'advisor' does not care. It will still make KES 70mn from GoK as well as KLM & IFC. Payment in cash not shares!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Kausha
#377 Posted : Friday, June 08, 2012 2:02:28 PM
Rank: Member

Joined: 2/8/2007
Posts: 808
@VVS you crack me up man, ati CMA handing out exemptions like candy. I agree we need lawyers with serious commercial knowledge and practice experience in the commercial courts as judges otherwise we will be stuck in limbo for quite sometime. It's one thing to have a functional judiciary but it is also another to have it properly resourced with sufficient skill.
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hisah
#378 Posted : Friday, June 08, 2012 2:07:09 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
So the rights from hell were only 70% subscribed with gok putting up a plastic smile... Sub 10 it is... I hope the new pilot won't bailout once the rights volume floods in.

For all passengers still onboard, follow the crash landing signals on the cabin display since there's no cabin crew.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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StatMeister
#379 Posted : Friday, June 08, 2012 2:23:48 PM
Rank: Veteran

Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
hisah wrote:
So the rights from hell were only 70% subscribed with gok putting up a plastic smile... Sub 10 it is... I hope the new pilot won't bailout once the rights volume floods in.

For all passengers still onboard, follow the crash landing signals on the cabin display since there's no cabin crew.

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
A bad day fishing is better than a good day at work
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mwekez@ji
#380 Posted : Saturday, June 09, 2012 7:58:20 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Looking at how the rights were taken up:

GOK - 23%
KLM - 19%
IFC - 10%
Others - 18%

Total - 70%


Am wondering who are the 'others' who took up 18% but i can almost tell for sure its not wanjiku. so if the others are local and foreign institutional investors in equal proportions, the post rights shareholding structure would be:

1. Local Institutions - 43.22%
2. Foreign Institutions - 49.73%
3. Local Individuals - 6.83%
4. Foreign Individuals - 0.22%

Individual investors/Wankiku gets diluted a whopping 69.20%!!! And they are still selling at 14 and likely all the way to single digit. The institutionals will be buying wanjiku. When Wanjiku is done with capitulating, then BOOM, institutional will ride the BULL all the way to ....

Poor Wanjiku!
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