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KenGen’s Kes 141 Billion Rights Offer to Quadruple Shares in Issue
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whiteowl
#281 Posted : Tuesday, August 11, 2015 10:40:59 AM
Rank: Veteran


Joined: 4/16/2014
Posts: 1,420
Location: Bohemian Grove
Ericsson wrote:
I was waiting for announcement concerning the rights issue.It's one month later and the CEO had said the program of the rights issue will be unveiled by the transaction advisors

This thread is a record breaking discussion of a rights issue that won't happen, at least not in the near future smile
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Othelo
#282 Posted : Tuesday, August 11, 2015 11:11:55 AM
Rank: User


Joined: 1/20/2014
Posts: 3,528
whiteowl wrote:
Ericsson wrote:
I was waiting for announcement concerning the rights issue.It's one month later and the CEO had said the program of the rights issue will be unveiled by the transaction advisors

This thread is a record breaking discussion of a rights issue that won't happen, at least not in the near future smile

The talk has been on since mid 2013 smile
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Aguytrying
#283 Posted : Tuesday, August 11, 2015 1:11:22 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
Othelo wrote:
whiteowl wrote:
Ericsson wrote:
I was waiting for announcement concerning the rights issue.It's one month later and the CEO had said the program of the rights issue will be unveiled by the transaction advisors

This thread is a record breaking discussion of a rights issue that won't happen, at least not in the near future smile

The talk has been on since mid 2013 smile


Who cares anymore? This is not a company that needed money or they are not serious
The investor's chief problem - and even his worst enemy - is likely to be himself
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grahamsdisciple
#284 Posted : Thursday, October 22, 2015 11:52:34 AM
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Joined: 10/19/2015
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If you note in their books for end year 2015, they are in the process of converting 20b from debt to equity. Most likely GOK loans. This means they are in the market to raise 28-30 billion. In my view, this will most likely happen through a 2:1 rights issue priced at about 8-9 bob. Bulk should be raised through debt as you've noted they have increased revaluation reserve significantly (50b+) so as to maintain healthy debt to equity. Get in the share if you know you'll fully take up rights.
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Ericsson
#285 Posted : Thursday, October 22, 2015 11:54:42 AM
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Joined: 12/4/2009
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@grahamdisciple
Share link to their books we see
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Danster
#286 Posted : Thursday, October 22, 2015 12:45:12 PM
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Joined: 9/23/2015
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Are they likely to issue the rights in this first quarter?d'oh!
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grahamsdisciple
#287 Posted : Thursday, October 22, 2015 12:58:51 PM
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Joined: 10/19/2015
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Ericsson wrote:
@grahamdisciple
Share link to their books we see



http://www.rich.co.ke/me...030th%20June%202015.pdf


See page 4, 20 bn debt awaiting conversion to equity and comprehensive income revaluation of 75b. In my view, they are all set for rights issue just a matter of perfect timing which unfortunately is being denied by the market.
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Aguytrying
#288 Posted : Thursday, October 22, 2015 1:29:02 PM
Rank: Elder


Joined: 7/11/2010
Posts: 5,040
grahamsdisciple wrote:
Ericsson wrote:
@grahamdisciple
Share link to their books we see



http://www.rich.co.ke/me...030th%20June%202015.pdf


See page 4, 20 bn debt awaiting conversion to equity and comprehensive income revaluation of 75b. In my view, they are all set for rights issue just a matter of perfect timing which unfortunately is being denied by the market.


After dilly dallying for 3 years.they'll be in for a rude shock if they try to feed the market with a Rights Issue now. Gava cleverly not spending cash. So it's up to you investors to fork out the 30bn.
They should await the next bull run in 3 years to issue the rights it's too late now
The investor's chief problem - and even his worst enemy - is likely to be himself
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VituVingiSana
#289 Posted : Friday, October 23, 2015 4:18:46 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
Aguytrying wrote:
grahamsdisciple wrote:
Ericsson wrote:
@grahamdisciple
Share link to their books we see



http://www.rich.co.ke/me...030th%20June%202015.pdf


See page 4, 20 bn debt awaiting conversion to equity and comprehensive income revaluation of 75b. In my view, they are all set for rights issue just a matter of perfect timing which unfortunately is being denied by the market.


After dilly dallying for 3 years.they'll be in for a rude shock if they try to feed the market with a Rights Issue now. Gava cleverly not spending cash. So it's up to you investors to fork out the 30bn.
They should await the next bull run in 3 years to issue the rights it's too late now
KenGen needs the cash but a Rights Issue today will probably fail miserably if it relies on the Kenyan (except GoK) shareholders.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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hisah
#290 Posted : Friday, October 23, 2015 5:38:02 AM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
VituVingiSana wrote:
Aguytrying wrote:
grahamsdisciple wrote:
Ericsson wrote:
@grahamdisciple
Share link to their books we see



http://www.rich.co.ke/me...030th%20June%202015.pdf


See page 4, 20 bn debt awaiting conversion to equity and comprehensive income revaluation of 75b. In my view, they are all set for rights issue just a matter of perfect timing which unfortunately is being denied by the market.


After dilly dallying for 3 years.they'll be in for a rude shock if they try to feed the market with a Rights Issue now. Gava cleverly not spending cash. So it's up to you investors to fork out the 30bn.
They should await the next bull run in 3 years to issue the rights it's too late now
KenGen needs the cash but a Rights Issue today will probably fail miserably if it relies on the Kenyan (except GoK) shareholders.

Heavy dilution in a bear market will flop miserably. Ask KQ. Then you'll be forced to raise expensive debt from the commercial side. GoK is already facing cash pressure to fully take up their rights. This won't end well.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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mlennyma
#291 Posted : Friday, October 23, 2015 10:21:26 AM
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Where are the guys who were chasing this thing past 10bob?
"Don't let the fear of losing be greater than the excitement of winning."
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VituVingiSana
#292 Posted : Saturday, October 24, 2015 2:14:43 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,121
Location: Nairobi
hisah wrote:
VituVingiSana wrote:
Aguytrying wrote:
grahamsdisciple wrote:
Ericsson wrote:
@grahamdisciple
Share link to their books we see



http://www.rich.co.ke/me...030th%20June%202015.pdf


See page 4, 20 bn debt awaiting conversion to equity and comprehensive income revaluation of 75b. In my view, they are all set for rights issue just a matter of perfect timing which unfortunately is being denied by the market.


After dilly dallying for 3 years.they'll be in for a rude shock if they try to feed the market with a Rights Issue now. Gava cleverly not spending cash. So it's up to you investors to fork out the 30bn.
They should await the next bull run in 3 years to issue the rights it's too late now
KenGen needs the cash but a Rights Issue today will probably fail miserably if it relies on the Kenyan (except GoK) shareholders.

Heavy dilution in a bear market will flop miserably. Ask KQ. Then you'll be forced to raise expensive debt from the commercial side. GoK is already facing cash pressure to fully take up their rights. This won't end well.
This would be a good time for a very large, influential, very long-term cash-rich investor who can influence policy [& keep a check on corruption] at KenGen. The 65bn contract given a shady firm which forged docs is scary.

I, as a small investor, with zero influence, will pass.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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