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NIC 1:4 rights issue - sh21 per share
Rank: Chief Joined: 5/31/2011 Posts: 5,121
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VituVingiSana wrote:mwekez@ji wrote:Anybody with a soft copy of the IM? Rights issue opens on Monday. Website? Talk to your broker. Nothing on their website. Will check with my broker next week when there. In the meantime, if one has a soft copy, pls share
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Rank: Chief Joined: 1/3/2007 Posts: 18,129 Location: Nairobi
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mwekez@ji wrote:VituVingiSana wrote:mwekez@ji wrote:Anybody with a soft copy of the IM? Rights issue opens on Monday. Website? Talk to your broker. Nothing on their website. Will check with my broker next week when there. In the meantime, if one has a soft copy, pls share Hmmm, I saw a soft copy somewhere. Let me see what I can do. No guarantees. Also contact the Registrars or NIC Capital. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 7/21/2010 Posts: 6,184 Location: nairobi
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All shareholders were issued with pals and a booklet through post long time me included. "Don't let the fear of losing be greater than the excitement of winning."
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Nitaangalia. Last time I checked I had twenty something shares here... GOD BLESS YOUR LIFE
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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mwekez@ji wrote:VituVingiSana wrote:mwekez@ji wrote:Anybody with a soft copy of the IM? Rights issue opens on Monday. Website? Talk to your broker. Nothing on their website. Will check with my broker next week when there. In the meantime, if one has a soft copy, pls share IM is finally uploaded on NIC website http://www.nic-bank.com/...sue/downloads/NIC-IM.pdfHistory 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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Rank: Member Joined: 11/6/2010 Posts: 289
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Rank: Elder Joined: 11/7/2007 Posts: 2,182
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thanks sana BGL wewe ni wetu!!! LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Rank: Chief Joined: 1/3/2007 Posts: 18,129 Location: Nairobi
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BGL wrote:mwekez@ji wrote:VituVingiSana wrote:[quote=mwekez@ji]Anybody with a soft copy of the IM? Rights issue opens on Monday. Website? Talk to your broker. Nothing on their website. Will check with my broker next week when there. In the meantime, if one has a soft copy, pls share IM is finally uploaded on NIC website http://www.nic-bank.com/...ue/downloads/NIC-IM.pdf[/quote]You da man. Or woman.  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Anyone with the latest report from the Sacco Societies Regulatory Authority (SASRA) tuma wazua@googlegroups.com Asante. GOD BLESS YOUR LIFE
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Tx @BGL. I notice they have now put up a whole sub-web with info on the rights issue.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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1:4 rights issue kicks off today. 1:10 bonus issue to follow. Success of rights issue notwithstanding, dilution abound.
IM.
Clause 7
NIC Bank Limited wishes to raise approximately KShs 2.1bn by way of a Rights Issue. The Rights Issue was approved by shareholders at an Annual General Meeting held on 2nd May 2012. The shareholders also approved an increase in the Authorized share capital and a bonus issue of 1 share for every 10 ordinary shares held. The New Shares allocated during the Rights Issue will be entitled to this bonus.
Clause 7.6 Bonus Issue
The holders of the New Shares will be entitled to receive additional bonus shares in the ratio of 1 bonus share to every 10 New Shares. This means that for every 10 Rights applied for and allotted, you will be entitled to receive 1 Bonus Share subject to the Capital Markets Authority’s approval of the proposed bonus issue.
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Rank: Chief Joined: 1/3/2007 Posts: 18,129 Location: Nairobi
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MyStocks is failing me. No mention of the prices for NIC Rights Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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The rights today have traded at a VWAP of KES 8.20 and did a range of KES 6.90 - 9.00. Any buyers over KES 10 will not be rational coz picking the shares from market will be the rational thing to do
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Rank: Member Joined: 11/6/2010 Posts: 289
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@mwekezi well said...do u think we will have an over subscription like the year 2007?
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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gesowan wrote:@mwekezi well said...do u think we will have an over subscription like the year 2007? A massive over subscription at that! Probably more than 50% oversubscribed The signs are there clear as day! Look at the premium edging higher everyday! I wonder if @sparkly applied for additional rights on his 100 shares  Mark 12:29
Deuteronomy 4:16
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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guru267 wrote:gesowan wrote:@mwekezi well said...do u think we will have an over subscription like the year 2007? A massive over subscription at that! Probably more than 50% oversubscribed The signs are there clear as day! Look at the premium edging higher everyday! DTB will give us the results of its rights issue on Monday. That will also give us a guidance on this
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Rank: Elder Joined: 11/7/2007 Posts: 2,182
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mwekez@ji wrote:guru267 wrote:gesowan wrote:@mwekezi well said...do u think we will have an over subscription like the year 2007? A massive over subscription at that! Probably more than 50% oversubscribed The signs are there clear as day! Look at the premium edging higher everyday! DTB will give us the results of its rights issue on Monday. That will also give us a guidance on this that will be a big pointer, but i think the big investors just commit to taking up the rights issue in-case the rights are not fully subscribed so in case of over subscription, they fail to take up, my thoughts... i applied for 3X my uptake at SCBK and i got all yet the rights were over-subscribed by 50% LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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kyt wrote:mwekez@ji wrote:guru267 wrote:gesowan wrote:@mwekezi well said...do u think we will have an over subscription like the year 2007? A massive over subscription at that! Probably more than 50% oversubscribed The signs are there clear as day! Look at the premium edging higher everyday! DTB will give us the results of its rights issue on Monday. That will also give us a guidance on this that will be a big pointer, but i think the big investors just commit to taking up the rights issue in-case the rights are not fully subscribed so in case of over subscription, they fail to take up, my thoughts... i applied for 3X my uptake at SCBK and i got all yet the rights were over-subscribed by 50% DTB rights issue results have come before their set deadline announcement date. The rights issue was oversubscribed by a whopping 86.2%. However take-up percentage under entitlement stood at 74.6% coz some shareholders allowed their entitlement to lapse (6,205,675 shares, 25.4%). These lapsed shares will be allocated on a pro rata basis of 22.74% to those who applied for additional shares. Such a scenario could also come up with NIC
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rights at a premium of KES 15. Share going at KES 35 #Noted
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NIC 1:4 rights issue - sh21 per share
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