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NIC 1:4 rights issue - sh21 per share
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mwekez@ji
#31 Posted : Monday, August 27, 2012 8:53:04 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
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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VituVingiSana
#32 Posted : Monday, August 27, 2012 9:39:39 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
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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mwekez@ji
#33 Posted : Thursday, August 30, 2012 11:16:24 AM
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Joined: 5/31/2011
Posts: 5,121
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mwekez@ji
#34 Posted : Thursday, August 30, 2012 5:47:54 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
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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gesowan
#35 Posted : Thursday, August 30, 2012 6:37:58 PM
Rank: Member

Joined: 11/6/2010
Posts: 289
@mwekezi well said...do u think we will have an over subscription like the year 2007?
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guru267
#36 Posted : Thursday, August 30, 2012 7:48:30 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
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 smile
Mark 12:29
Deuteronomy 4:16
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mwekez@ji
#37 Posted : Friday, August 31, 2012 9:09:00 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
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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kyt
#38 Posted : Friday, August 31, 2012 12:23:28 PM
Rank: Elder

Joined: 11/7/2007
Posts: 2,182
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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mwekez@ji
#39 Posted : Friday, August 31, 2012 12:35:17 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
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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mwekez@ji
#40 Posted : Wednesday, September 05, 2012 10:44:08 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Rights at a premium of KES 15. Share going at KES 35 #Noted
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