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National Insurance Corporation (NIC) IPO Results
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ecstacy
#1 Posted : Wednesday, March 10, 2010 8:27:13 AM
Rank: Elder


Joined: 2/26/2008
Posts: 4,449
Good news for retail applicants:

- The NIC IPO has been over subscribed by 31.97%.

- Any individual who applied for up to 2,000,000 shares will be allotted 100% of the
shares applied for.

- Share certificates for successful applicants will be ready for collection from your
broker/dealer or receiving bank after Thursday 18th March 2010.

- Trading in NIC shares on the Uganda Securities Exchange will commence on the 25th March 2010.

Happy investing.
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ecstacy
#2 Posted : Thursday, March 25, 2010 2:56:54 PM
Rank: Elder


Joined: 2/26/2008
Posts: 4,449
First day of trading. Price up 33%. Good!
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mot@ug
#3 Posted : Thursday, March 25, 2010 8:47:14 PM
Rank: New-farer


Joined: 1/23/2010
Posts: 2
Location: kla
thats a gd start fo nic, we hope it keeps the trend.
kenyans have some experience with insurance companies, any advice on this one?
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guru267
#4 Posted : Friday, March 26, 2010 6:18:08 AM
Rank: Elder


Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
As a kenyan living in uganda i've been able to look at both ends and one cannot compare ugandan insurance companies risk management models to those of kenya which are also poor.. NIC uganda is a good company but from its prospectus i realised it is sitting on a whole load of risk and increasing competition so i wouldnt touch it...

i'm also currently staying out of the USE until they move to the CDS kind of trading so that liquidity can improve...
Mark 12:29
Deuteronomy 4:16
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ecstacy
#5 Posted : Friday, March 26, 2010 7:40:08 AM
Rank: Elder


Joined: 2/26/2008
Posts: 4,449
Returns on this counter and the USE going forward will shock some people...
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uchumi
#6 Posted : Saturday, March 27, 2010 6:45:05 PM
Rank: Member


Joined: 9/16/2006
Posts: 229
i expect the counter to trade at the range of 45-50 in the coming days.we expect the results for the year end to be lower.as per now i cant touch this counter.
“I don’t regret the things I’ve done, I regret the things I didn’t do when I had the chance.”
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owenkyima
#7 Posted : Monday, March 29, 2010 6:51:41 AM
Rank: New-farer


Joined: 1/21/2010
Posts: 11
Location: Africa
CDS trading is being rolled atm, advice is get a licenced broker and open up a cds account, only problem is its still at trial stages, therefore there are bound to be some mistakes which could be quite costly to investor confidence in the paperless system.

33% gain on first day of trading is a sign of good things coming, i would say buy. NIC might not have its house in order but one thing i have learnt about these emerging markets i.e NSE, USE is that stock performance does not correlate 100% with textbook expectation, its all about market perception... well until the bubble bursts
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