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Kengen success
Rank: Elder Joined: 7/11/2010 Posts: 5,040
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One positive other than the successful rights is that institutional investors have increased via rump up and new applications. I think they are in it for the dividend. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 6/23/2009 Posts: 13,519 Location: nairobi
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mlennyma wrote:sparkly wrote:mlennyma wrote:sparkly wrote:mlennyma wrote:sparkly wrote:mlennyma wrote:streetwise wrote:Kengen right will proof to have been a rip off one day.
There is little you expect from this share unless you want to count the rate of increase of dams An exercise where the government was smart not to spend a coin in cash. Not true. Treasury borrowed monies from development partners at concessionary rates and on-lend to Kengen. Kengen was servicing interest on the on-lend amounts to Treasury. thank you for being the few who trust the government I actually didn't trust the government. But I am willing to stick my neck out where the general market mood is too fearful. My target is 150% upside. my only dispute is that the market will offer a better discount than the rights which could have made you richer than you will be,no doubt you will make some money Inshallah. I await Mr. markets Discount's. I have set aside some cash for more Kengen at 5-6 and Equity 30-35. it's however not a big deal for Kengen to clock 15-20 in a bull market That will take time. Glad I sold off
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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obiero wrote:enyands wrote:Ebenyo wrote:obiero wrote:opted to offload today at 6.90 why? Obiero is someone you will never understand. He will swim against the current, he will sprint when people are running and crawl when people are sprinting . He will inform you he sold kengen to buy more kq ...wait and see Try and understand that I trade on insider information. I stay atleast 2 weeks ahead of most. Sometimes, months ahead depending on the firm “With enough insider information and a million dollars, you can go broke in a year.“ - Warren BuffettGreedy 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: 18,103 Location: Nairobi
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mlennyma wrote:sparkly wrote:mlennyma wrote:streetwise wrote:Kengen right will proof to have been a rip off one day.
There is little you expect from this share unless you want to count the rate of increase of dams An exercise where the government was smart not to spend a coin in cash. Not true. Treasury borrowed monies from development partners at concessionary rates and on-lend to Kengen. Kengen was servicing interest on the on-lend amounts to Treasury. thank you for being the few who trust the government  @miennyma Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 7/10/2014 Posts: 145 Location: Nairobi
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 VituVingiSana wrote:mlennyma wrote:sparkly wrote:mlennyma wrote:streetwise wrote:Kengen right will proof to have been a rip off one day.
There is little you expect from this share unless you want to count the rate of increase of dams An exercise where the government was smart not to spend a coin in cash. Not true. Treasury borrowed monies from development partners at concessionary rates and on-lend to Kengen. Kengen was servicing interest on the on-lend amounts to Treasury. thank you for being the few who trust the government @miennyma Clever way by Gava. It wud have been a challenge to sell one right at Ksh 13.3 so creatively 2 rights for everyone held at Ksh 6.65 "Blowing out someone else candle won't make yours shine brighter"-Anonymous
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Rank: Member Joined: 8/15/2015 Posts: 817
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goverment uptake of its rights saved the rights issue but clearly the market isnot interested in the rights http://www.businessdaily...92/-/oq7vm4/-/index.html
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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The spirit on this thread.... many would have wanted to see the Kengen rights flop  Life is short. Live passionately.
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Rank: Elder Joined: 6/23/2009 Posts: 13,519 Location: nairobi
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sparkly wrote:The spirit on this thread.... many would have wanted to see the Kengen rights flop The success was hinged on 70% government ownership and its conversion of debt to equity. Ideally, very little new cash has been pumped in. The key question is.. Did the government pay Sh6.3 billion in cash for its uptake of shares?? Next year is 2017 my friends.. I have some data on this one hence reason for bailing out at KES 6.90. Thank me later
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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@Obiero Punguza temper you can't win everytime so for those who particpated wish them well. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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sparkly wrote:The spirit on this thread.... many would have wanted to see the Kengen rights flop lol. I agree guys too negative even bitter. ive reduced my criticism. The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 6/23/2009 Posts: 13,519 Location: nairobi
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Ericsson wrote:@Obiero
Punguza temper you can't win everytime so for those who particpated wish them well.
No temper @ericsson.. Just laying down a fact. The company said it needed cash, how much cash in shilling terms was collected for the intended projects
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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As for many like me wenye tuliingia kengen juzi,we will be happy to increase our holding with the low prices. Towards the goal of financial freedom
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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@Obiero Go and read the information memorandum. The purpose was to re balance the debt:equity ratio so for the case of gqva part of the debt was retired by converting to equity for the rights issue. So if for example kengen owed gava sh.30bn post rights issue its now 10bn. That gives kengen room to pay lower finance costs and get loans from JICA for new power plants to be built Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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Ericsson wrote:@Obiero
Go and read the information memorandum. The purpose was to re balance the debt:equity ratio so for the case of gqva part of the debt was retired by converting to equity for the rights issue. So if for example kengen owed gava sh.30bn post rights issue its now 10bn.
That gives kengen room to pay lower finance costs and get loans from JICA for new power plants to be built
I used to like kengen once upon a time. Then came the massive expansion plans using debt. mind boggling debt figures. that was the end for me. even this rights issue is to reduce debt so they can borrow more. i have an issue with too much (gross) debt. debt to equity ratio be damned The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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@Aguytrying. If the company is able to utilise the debt well, grow assets, grow its revenue, grow the profits and give out consistent dividends then there should be no cause of alarm of the debt. Moreover the company has a brilliant finance director Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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The day you see chinese becoming the major financiers and creditors to kengen run away very very fast especially if it's a G to G agreement Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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Aguytrying wrote:Ericsson wrote:@Obiero
Go and read the information memorandum. The purpose was to re balance the debt:equity ratio so for the case of gqva part of the debt was retired by converting to equity for the rights issue. So if for example kengen owed gava sh.30bn post rights issue its now 10bn.
That gives kengen room to pay lower finance costs and get loans from JICA for new power plants to be built
I used to like kengen once upon a time. Then came the massive expansion plans using debt. mind boggling debt figures. that was the end for me. even this rights issue is to reduce debt so they can borrow more. i have an issue with too much (gross) debt. debt to equity ratio be damned I was attracted to kengen by a high dividend yield.I entered at kshs 6.80 which at the current dps of kshs 0.60 represents a dividend yield of 11%.Im also not very comfortable with a high debt to equity ratio.But im comfortable with my entry price.With the rights issue shares coming to the market,i hope to add more at cheaper price.Im comfortable with their business monopoly which i believe will continue growing profits.They have also been consistent at paying dividends since listing in 2006.So as long as they make profits,pay me dividend,i will be comfortable in the medium term.I will keep increasing my holding at cheap price while increasing my dividend pay.This is a company im in for mainly divisification. Towards the goal of financial freedom
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ebenyo wrote:Aguytrying wrote:Ericsson wrote:@Obiero
Go and read the information memorandum. The purpose was to re balance the debt:equity ratio so for the case of gqva part of the debt was retired by converting to equity for the rights issue. So if for example kengen owed gava sh.30bn post rights issue its now 10bn.
That gives kengen room to pay lower finance costs and get loans from JICA for new power plants to be built
I used to like kengen once upon a time. Then came the massive expansion plans using debt. mind boggling debt figures. that was the end for me. even this rights issue is to reduce debt so they can borrow more. i have an issue with too much (gross) debt. debt to equity ratio be damned I was attracted to kengen by a high dividend yield.I entered at kshs 6.80 which at the current dps of kshs 0.60 represents a dividend yield of 11%. That is if DPS is maintained at 0.6 after the dilution. highly unlikely. Life is short. Live passionately.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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@Sparkly Dividend payout ratio is the key Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/11/2010 Posts: 5,040
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sparkly wrote:Ebenyo wrote:Aguytrying wrote:Ericsson wrote:@Obiero
Go and read the information memorandum. The purpose was to re balance the debt:equity ratio so for the case of gqva part of the debt was retired by converting to equity for the rights issue. So if for example kengen owed gava sh.30bn post rights issue its now 10bn.
That gives kengen room to pay lower finance costs and get loans from JICA for new power plants to be built
I used to like kengen once upon a time. Then came the massive expansion plans using debt. mind boggling debt figures. that was the end for me. even this rights issue is to reduce debt so they can borrow more. i have an issue with too much (gross) debt. debt to equity ratio be damned I was attracted to kengen by a high dividend yield.I entered at kshs 6.80 which at the current dps of kshs 0.60 represents a dividend yield of 11%. That is if DPS is maintained at 0.6 after the dilution. highly unlikely. After dilution the yield at 6.55 should be about 3-4%. I hope u know That @Ebenyo. Just divide the dividend by 4. To estimate the new dividend. Assuming pay out ratio remains the same The investor's chief problem - and even his worst enemy - is likely to be himself
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