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I&M Bank to List at NSE via City Trust.
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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xtina wrote:Snapped few shares when it was 90, me is a happy, happy girl  Congrats gal. Introduce me to your sources. Life is short. Live passionately.
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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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.
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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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
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Rank: Veteran Joined: 10/11/2009 Posts: 1,223
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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
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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It’s all systems go. A smooth ride all the way to deal conclusion …. &yea, a smooth ride all the way to the bank.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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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
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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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
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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@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
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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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
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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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
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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Wasn't there a no trading period? Sehemu ndio nyumba
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Monday the counter should trade. Suspension is done
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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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
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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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
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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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
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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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
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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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"
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Rank: Chief Joined: 1/3/2007 Posts: 18,121 Location: Nairobi
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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
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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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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I&M Bank to List at NSE via City Trust.
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