@obiero seems this @spikes guy is a thorn on your flesh . You go to an extend of background checking him. Hope you don't have nightmares at night of him

http://www.businessdaily.../-/2djn9fz/-/index.html

Businessman Paul Wanderi Ndung’u has bought 3.3 million shares of KenGen, making him the top individual shareholder of the NSE-listed power producer.
Regulatory filings show that Mr Ndung’u acquired the shares in the three months to December, with the value of his holdings rising to about Sh21.3 million based on KenGen’s current share price of about Sh6.40 apiece.

His purchase of the Nairobi Securities Exchange-listed firm’s shares comes ahead of the company’s rights issue that is expected to raise Sh8.6 billion.

The cash call will also see the government convert its loans to KenGen amounting to Sh20 billion into equity, implying that the Treasury will participate in the transaction without providing new cash.

The power producer is betting on the rights issue, expected to be concluded by June, to fund its expansion plan by injecting new capital and boosting its capacity to take on new debt.

The investment by Mr Ndung’u comes at a time when the KenGen share price has dropped significantly, partly due to investor fears of dilution in the rights issue, making it one of the cheapest counters on the Nairobi bourse.

The share price has lost 35 per cent over the past one year, touching new lows of Sh5.4 in recent weeks.

At current levels, the firm’s stock is trading at 0.1 times its net assets. The company on Thursday paid a dividend of Sh0.65 per share, representing a yield of 10 per cent based on its current trading price.

KenGen joins the list of publicly traded firms where Mr Ndung’u is the top individual investor.

He is also the largest individual investor in Kenya Re with 2.3 million shares worth Sh45 million and in Uchumi where he holds 18.8 million shares currently valued at Sh132 million.

Fattening the cow before the slaughter. Huge profits, huge dividends. Then the knife falls.

This wanderi guy, his stock choices are suspicious. Maybe he knows what he's doing

Co-operative bank are very mean with dividends.
Their payout is less than 30% of their after tax profit

Lament how? When fear factor of dilution is imminent.

What's the indecision here? You've got me all wrong. I'm very decided.

The lower the price, the merrier for those who like discounts.

@Kanyati
We are all waiting for the release of the information memorandum.
The cash to be raised is ksh.8.6bn