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SCB Rights Issue Information memorandum
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xxxxx
#1 Posted : Friday, September 28, 2012 1:15:13 PM
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VituVingiSana
#2 Posted : Friday, September 28, 2012 2:11:01 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,129
Location: Nairobi
Minimal allocation. 1:13 & SCBK has 74% locked away. Huge opportunity cost.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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King G
#3 Posted : Friday, September 28, 2012 2:50:40 PM
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Joined: 6/20/2012
Posts: 3,855
Location: Othumo
This bank has been very conservative in its approach to banking business in Kenya. Good buy for risk averse guys
Thieves
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chikonde
#4 Posted : Friday, September 28, 2012 3:59:33 PM
Rank: New-farer


Joined: 1/15/2010
Posts: 81
Is there a possibility that they will allocate the remaining 15million unissued shares in case of an oversubscription, I wonder? The AGM authorised them to issue up to 37 million shares via Rights. They have admitted in the IM that their shares are pretty illiquid and this would be one way of redressing that situation. Guess it will also depend on whether they want the extra cash.
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xxxxx
#5 Posted : Wednesday, November 14, 2012 9:56:56 AM
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chikonde wrote:
Is there a possibility that they will allocate the remaining 15million unissued shares in case of an oversubscription, I wonder? The AGM authorised them to issue up to 37 million shares via Rights. They have admitted in the IM that their shares are pretty illiquid and this would be one way of redressing that situation. Guess it will also depend on whether they want the extra cash.



Given the 158% subscription rate, what is the allocation criteria???? Any announcement???
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chikonde
#6 Posted : Wednesday, November 14, 2012 10:18:48 AM
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Joined: 1/15/2010
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Yes, announcement appears in today's Nation. For additional shares applied for up to 500, all allocated. Above that at 2.235% of balance. Better allocation procedure than NIC.
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xxxxx
#7 Posted : Wednesday, November 14, 2012 10:32:09 AM
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chikonde wrote:
Yes, announcement appears in today's Nation. For additional shares applied for up to 500, all allocated. Above that at 2.235% of balance. Better allocation procedure than NIC.


asante
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VituVingiSana
#8 Posted : Wednesday, November 14, 2012 11:08:03 PM
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Joined: 1/3/2007
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Location: Nairobi
chikonde wrote:
Yes, announcement appears in today's Nation. For additional shares applied for up to 500, all allocated. Above that at 2.235% of balance. Better allocation procedure than NIC.
NIC's allocation was just plain shady. It was designed to benefit the ndegwa's entities but without being upfront about it. They even slipped in a favor from Minister of Finance (githae) to increase it to 35% without saying anything in the IM or via the NSE
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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