Rank: Elder Joined: 2/10/2007 Posts: 1,587
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VituVingiSana wrote:Realtreaty wrote:VituVingiSana wrote:mypesa wrote:Coop has to break the ever elusive 19bob by tomorrow friday . Each time it goes 18+ it hits a dead wall n heads south again Let the results come out. They will have to rite-down some, if not all, of the South Sudan investment! Coop Bank may jump quickly from 18 to an average of 22 and may be at 26 before FY. What property is owned by Coop bank apart from banking services will determine its strength. land has become a key asset and Coop may show its muscle through the properties it holds.  I am not bearish on Co-op but it is good to be cautious especially when there was a lot of 'expansion' riding on South Sudan. The good news is that unlike KCB or Equity, the loss may be mitigated since it was a new operation. Prudence, however, dictates a write-off of the substantial investment in South Sudan. Furthermore, an audit of the SS operation may be difficult thus a write-off (or provision) is a prudent measure. That said, I believe the Kenya business should have grown substantially post-election. For those who have been following Coop keenly, are foreign investors active in this stock? What about local institutional investors? I do not use mystocks, so can't tell between local and foreign traders. I however doubt if there are major foreigners actively trading in Coop. It should be trading in 20s.
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