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I&M Bank to List at NSE via City Trust.
sparkly
#81 Posted : Wednesday, February 20, 2013 7:29:58 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
xtina wrote:
Snapped few shares when it was 90, me is a happy, happy girl smile


Congrats gal.

Introduce me to your sources.
Life is short. Live passionately.
sparkly
#82 Posted : Wednesday, February 20, 2013 7:33:44 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
mwekez@ji wrote:
@Aguy, like @VVS has said. ..... also put into consideration that I&M is a growth stock with huge potential. Valuations could be adjusted upwards as info ticks in


@mwekez@ji's, @ VVS's intimate knowledge of his stock has paid off beautifully.
Life is short. Live passionately.
VituVingiSana
#83 Posted : Wednesday, February 20, 2013 4:53:51 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
I just heard that CTL shareholders have passed the resolution to take over I&M Bank while I&M Bank shareholders passed the resolution to be 'bought' out by I&M Bank subject to 90% approval [for a complete takeover] from shareholders as well as regulatory approvals.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
BGL
#84 Posted : Thursday, February 21, 2013 12:48:54 AM
Rank: Veteran


Joined: 10/11/2009
Posts: 1,223
daily nation pp 40

The new outfit will be called I&M HOLDINGS LTD
History 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
mwekez@ji
#85 Posted : Thursday, February 21, 2013 9:23:34 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
It’s all systems go. A smooth ride all the way to deal conclusion …. &yea, a smooth ride all the way to the bank.
mwekez@ji
#86 Posted : Friday, February 22, 2013 9:44:46 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
City Trust split to spur trading at stock market http://www.businessdailyafrica....0/-/327qalz/-/index.html
VituVingiSana
#87 Posted : Tuesday, April 16, 2013 4:36:06 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
I&M Bank has reported 2012 EPS at 134/- (or something close to it) with a weak increase in earnings in Kenya due to high cost of deposits & volatile forex environment.

Assumptions: I expect a 20% increase in 2013 with a boost from Rwanda (acquired in mid-2012) & Kenya (2013 is calmer, elections are over, interest rates have stabilized, loans will grow).

Tanzania and Mauritius will probably be steady performers.

134 x 120% = 161 (EPS based on current number of I&M shares) which when adjusted for the split (post-merger) = almost 12/-

If we use an PER of 10 then this is 120/- per share. If I calculate backwards then current City Trust should trade at 120 x 5 = 600 vs last traded price of 448
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mwekez@ji
#88 Posted : Wednesday, April 17, 2013 12:27:52 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
I&M Bank has reported 2012 EPS at 134/- (or something close to it) with a weak increase in earnings in Kenya due to high cost of deposits & volatile forex environment.

Assumptions: I expect a 20% increase in 2013 with a boost from Rwanda (acquired in mid-2012) & Kenya (2013 is calmer, elections are over, interest rates have stabilized, loans will grow).

Tanzania and Mauritius will probably be steady performers.

134 x 120% = 161 (EPS based on current number of I&M shares) which when adjusted for the split (post-merger) = almost 12/-

If we use an PER of 10 then this is 120/- per share. If I calculate backwards then current City Trust should trade at 120 x 5 = 600 vs last traded price of 448


This bank is clearly a gem. Even worldbank is keenly seeking a stake just like in DTB and Gulf >>> http://www.businessdailyafrica....08/-/uub4co/-/index.html
Aguytrying
#89 Posted : Wednesday, April 17, 2013 12:58:46 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
@VVS. I strongly agree. I had predicted 120 on a post on this thread too. a 100% profit for chumps who got in at 300. not bad at all. upon listing if the bus doesnt turn into a rocket. maybe worth a pop at 80-90.
The investor's chief problem - and even his worst enemy - is likely to be himself
VituVingiSana
#90 Posted : Wednesday, April 17, 2013 1:26:27 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
Aguytrying wrote:
@VVS. I strongly agree. I had predicted 120 on a post on this thread too. a 100% profit for chumps who got in at 300. not bad at all. upon listing if the bus doesnt turn into a rocket. maybe worth a pop at 80-90.
Looking at the numbers:

2012 EPS of 134 = post split of 10
2013 forecast EPS of 161 = post split of 12

There is a regional acquisition mentioned that Bank One (Mauritius) is expected to make in 2013. I assume it is in one of the islands like Reunion (French territory & PROPARCO is French), Madagascar (French speaking) or even Mozambique (huge growth potential).

When regional banks (KCB, Equity) are going at 11 PER then 120 is not a stretch. Can I buy at 80? I would love it!!! At 90, still loving it!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#91 Posted : Friday, April 19, 2013 2:52:12 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
Not trading today? What's the news? Are they waiting for 1Q 2013 results?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Mainat
#92 Posted : Friday, April 19, 2013 4:57:40 PM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,590
Wasn't there a no trading period?
Sehemu ndio nyumba
mwekez@ji
#93 Posted : Friday, April 19, 2013 5:07:16 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Monday the counter should trade. Suspension is done
Aguytrying
#94 Posted : Monday, April 22, 2013 8:49:18 AM
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Joined: 7/11/2010
Posts: 5,040
mwekez@ji wrote:
Monday the counter should trade. Suspension is done


as the new company or still as city trust?
The investor's chief problem - and even his worst enemy - is likely to be himself
mwekez@ji
#95 Posted : Monday, April 22, 2013 9:00:57 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Aguytrying wrote:
mwekez@ji wrote:
Monday the counter should trade. Suspension is done


as the new company or still as city trust?


as city trust. will start trading as I&M Holdings Ltd on Tuesday, June 11, 2013
Aguytrying
#96 Posted : Monday, April 22, 2013 9:40:38 AM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
mwekez@ji wrote:
Aguytrying wrote:
mwekez@ji wrote:
Monday the counter should trade. Suspension is done


as the new company or still as city trust?


as city trust. will start trading as I&M Holdings Ltd on Tuesday, June 11, 2013

sweet
The investor's chief problem - and even his worst enemy - is likely to be himself
VituVingiSana
#97 Posted : Monday, April 22, 2013 5:05:29 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
I was told that CTL will start trading on 26 April 2013 by a broker after delays by the CMA/CBK due to the holidays. Makes no sense but these chaps enjoy the good life. Anyway, it will be pre-split. Post split comes later i.e. 11 Jun 2013.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mwekez@ji
#98 Posted : Tuesday, April 23, 2013 9:53:48 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
I was told that CTL will start trading on 26 April 2013 by a broker after delays by the CMA/CBK due to the holidays. Makes no sense but these chaps enjoy the good life. Anyway, it will be pre-split. Post split comes later i.e. 11 Jun 2013.


You got good wind of the matter. A new timetable has been delivered link And the good news, as expected, has also been delivered "CTL announces that it has received acceptances from I&M shareholders of not less than 90% in value of the I&M Bank shares which are the subject of the offer and that, accordingly, the offer is now unconditional"
VituVingiSana
#99 Posted : Tuesday, April 23, 2013 1:45:53 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
mwekez@ji wrote:
VituVingiSana wrote:
I was told that CTL will start trading on 26 April 2013 by a broker after delays by the CMA/CBK due to the holidays. Makes no sense but these chaps enjoy the good life. Anyway, it will be pre-split. Post split comes later i.e. 11 Jun 2013.


You got good wind of the matter. A new timetable has been delivered link And the good news, as expected, has also been delivered "CTL announces that it has received acceptances from I&M shareholders of not less than 90% in value of the I&M Bank shares which are the subject of the offer and that, accordingly, the offer is now unconditional"
Oh, well. At least the Q1 results will be out before they start trading. I expect a good performance from I&M Bank though there is always the matter of a slow Q1 because of elections.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Mainat
#100 Posted : Tuesday, April 23, 2013 1:59:30 PM
Rank: Veteran


Joined: 11/21/2006
Posts: 1,590
I am expecting either a rights issue, or external capital-type bond financing/capital injection sometime this year. Assuming balance sheet growth is at a similar or higher level to 2012
Sehemu ndio nyumba
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