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Briatm, Britam, Britam sounds like sweet candy!
Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Horton wrote:Realtreaty wrote:Preparation to fully open the building ongoing.
Doing the snag points now in some areas and soon Wairegi, PORK Uhuru, DPORK Ruto, Raila and Senior owners will open the building from now to December 15.
Tenants are busy settling plus documentation of foreign firms willing to have offices there.
Is IBM booking a full floor?
Which Bank is the first to serve this village?
Lol realtreaty your posts should come with background music. Always quite dramatic & entertaining š I would not pay to watch though!  I shall review Britam, as an investment, after the new IFRS rules are implemented. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Veteran Joined: 4/4/2016 Posts: 1,997 Location: Kitale
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VituVingiSana wrote:Horton wrote:Realtreaty wrote:Preparation to fully open the building ongoing.
Doing the snag points now in some areas and soon Wairegi, PORK Uhuru, DPORK Ruto, Raila and Senior owners will open the building from now to December 15.
Tenants are busy settling plus documentation of foreign firms willing to have offices there.
Is IBM booking a full floor?
Which Bank is the first to serve this village?
Lol realtreaty your posts should come with background music. Always quite dramatic & entertaining š I would not pay to watch though! I shall review Britam, as an investment, after the new IFRS rules are implemented. Kenya Re will definately end up to be a political ploy for politicians.Britam with benson wairegi, peter munga and a somwehat coy business strategy can be a considered investment. Towards the goal of financial freedom
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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https://www.businessdail...418-115wch6z/index.html
Britam pays off Sh6.25bn bond ahead of maturity
Insurance group Britam Holdings has redeemed its corporate bond nine months ahead of its expected maturity date of July 15, 2019, paying investors, including Equity Bank and Commercial Bank of Africa, a total of Sh6.25 billion. The amount paid comprised the principal of Sh6 billion and interest of Sh255 million that had accrued since the last interest payment date of July 16, 2018. Equity was the biggest investor in the insurerās bond which had a fixed interest rate of 13 per cent per annum. The bank bought bonds with a face value of Sh1.2 billion. It was followed by Commercial Bank of Africa (Sh410.4 million), Family Bank (Sh410.4 million) and Chase Bank (Sh164.1 million). The bond also attracted local high-net-worth individuals who invested some Sh348.6 million in the securities. Britam paid the principal and interest to bondholders who were on record as of October 4, 2018. Early redemption of the debt was made possible by the receipt of a Sh5.7 billion equity investment from private equity fund AfricInvest, which was allotted a 14.3 per cent stake in the insurer. Britamās borrowings, which stood at Sh8.5 billion in June, are expected to decline significantly following the retirement of the bond. The insurer will also save some Sh780 million in annual interest expenses that it used to pay the bondholders. In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Angelica _ann wrote:https://www.businessdailyafrica.com/corporate/companies/Britam-pays-off-Sh6-25bn-bond-ahead-of-maturity/4003102-4859418-115wch6z/index.html
Britam pays off Sh6.25bn bond ahead of maturity
Insurance group Britam Holdings has redeemed its corporate bond nine months ahead of its expected maturity date of July 15, 2019, paying investors, including Equity Bank
and Commercial Bank of Africa, a total of Sh6.25 billion.
The amount paid comprised the principal of Sh6 billion and interest of Sh255 million that had accrued since the last interest payment date of July 16, 2018.
Equity was the biggest investor in the insurerās bond which had a fixed interest rate of 13 per cent per annum.
The bank bought bonds with a face value of Sh1.2 billion. It was followed by Commercial Bank of Africa (Sh410.4 million), Family Bank (Sh410.4 million) and Chase Bank (Sh164.1 million).
The bond also attracted local high-net-worth individuals who invested some Sh348.6 million in the securities.
Britam paid the principal and interest to bondholders who were on record as of October 4, 2018. Early redemption of the debt was made possible by the receipt of a Sh5.7 billion equity investment from private equity fund AfricInvest, which was allotted a 14.3 per cent stake in the insurer.
Britamās borrowings, which stood at Sh8.5 billion in June, are expected to decline significantly following the retirement of the bond. The insurer will also save some Sh780 million in annual interest expenses that it used to pay the bondholders. Related companies supporting each other Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/7/2012 Posts: 11,908
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Ericsson wrote:Angelica _ann wrote:https://www.businessdailyafrica.com/corporate/companies/Britam-pays-off-Sh6-25bn-bond-ahead-of-maturity/4003102-4859418-115wch6z/index.html
Britam pays off Sh6.25bn bond ahead of maturity
Insurance group Britam Holdings has redeemed its corporate bond nine months ahead of its expected maturity date of July 15, 2019, paying investors, including Equity Bank
and Commercial Bank of Africa, a total of Sh6.25 billion.
The amount paid comprised the principal of Sh6 billion and interest of Sh255 million that had accrued since the last interest payment date of July 16, 2018.
Equity was the biggest investor in the insurerās bond which had a fixed interest rate of 13 per cent per annum.
The bank bought bonds with a face value of Sh1.2 billion. It was followed by Commercial Bank of Africa (Sh410.4 million), Family Bank (Sh410.4 million) and Chase Bank (Sh164.1 million).
The bond also attracted local high-net-worth individuals who invested some Sh348.6 million in the securities.
Britam paid the principal and interest to bondholders who were on record as of October 4, 2018. Early redemption of the debt was made possible by the receipt of a Sh5.7 billion equity investment from private equity fund AfricInvest, which was allotted a 14.3 per cent stake in the insurer.
Britamās borrowings, which stood at Sh8.5 billion in June, are expected to decline significantly following the retirement of the bond. The insurer will also save some Sh780 million in annual interest expenses that it used to pay the bondholders. Related companies supporting each other Why the bile yet they have recovered from the #Cytonn ripoff. >>>>> Cash-rich Britam retires Sh6 billion bond Britam will save hundreds of millions of shillings in interest payments after it retired early its Sh6 billion corporate bond, reflecting the firms increased cash flow. The firm borrowed the Sh6 billion in 2014 and was to repay the facility on July 15 next year, shortening the period for paying interest that amounted to Sh780 million annually. The repayment comes months after the firm, which has insurance, asset management and property development businesses, received Sh5.7 billion from a private Equity Fund AfricInvest for the sale of new shares. Britam Chief Executive Benson Wairegi said the firmās board decided to retire the five-year bond, which attracted an interest rate of 13 per cent because the investments made from the cash were generating attractive returns. āWe have a healthy balance sheet and a strong financial position. Investments conducted using the bondās proceeds are also earning us handsome returns and this informed our decision to redeem the bond issued in June 2014,ā he said. Britam used the funds for expansion in Kenya and the region, property development and investment in private equity, especially at the Nairobi Securities Exchange. Britam acquired Sh10 billion land for property investments including office blocks, serviced apartments and malls. The insurer also operates in Tanzania, Uganda, South Sudan, Rwanda and Mozambique. āThe early redemption of the notes is subject to the consent of noteholders and the timelines for the payment will be announced once this consent has been obtained,ā the firm said in a notice. The firmās shareholder funds rose 27 per cent to Sh28.6 billion in the six months to June amounting to an extra Sh9.6 billion during the period. The firm owns shares in NSE companies including Equity Bank and Housing Finance. Britam wants to go big in the booming property sector and reduce its reliance on the insurance business, which accounts for most of its earnings, and the equities market. https://www.businessdail...728300-473gyv/index.htmlIn the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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Deep pockets taking advantage of bear to mop up and increae their holdings. a.k.a averaging down kamikaze style Quote:AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.
Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.
The aggressive buying spree means that AfricInvestās total investment at Britam stands at Ksh6.2 billion. Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation.
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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rwitre wrote:Deep pockets taking advantage of bear to mop up and increae their holdings. a.k.a averaging down kamikaze style Quote:AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.
Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.
The aggressive buying spree means that AfricInvestās total investment at Britam stands at Ksh6.2 billion. Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation. The owners will be selling.The likes of Wairegi,Mbaru and Munga Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 3/8/2018 Posts: 507 Location: Nairobi
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Ericsson wrote:rwitre wrote:Deep pockets taking advantage of bear to mop up and increae their holdings. a.k.a averaging down kamikaze style Quote:AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.
Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.
The aggressive buying spree means that AfricInvestās total investment at Britam stands at Ksh6.2 billion. Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation. The owners will be selling.The likes of Wairegi,Mbaru and Munga Those ones are not in a hurry to offload. In fact, if I can recall they were legally locked in for a couple of years after the AfricInvest deal went through. They are mandated to hold a combined stake (don't remember the specific percentage).
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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rwitre wrote:Ericsson wrote:rwitre wrote:Deep pockets taking advantage of bear to mop up and increae their holdings. a.k.a averaging down kamikaze style Quote:AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.
Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.
The aggressive buying spree means that AfricInvestās total investment at Britam stands at Ksh6.2 billion. Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation. The owners will be selling.The likes of Wairegi,Mbaru and Munga Those ones are not in a hurry to offload. In fact, if I can recall they were legally locked in for a couple of years after the AfricInvest deal went through. They are mandated to hold a combined stake (don't remember the specific percentage). Combined stake of 20% Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Member Joined: 1/1/2011 Posts: 396
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Ericsson wrote:rwitre wrote:Ericsson wrote:rwitre wrote:Deep pockets taking advantage of bear to mop up and increae their holdings. a.k.a averaging down kamikaze style Quote:AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.
Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.
The aggressive buying spree means that AfricInvestās total investment at Britam stands at Ksh6.2 billion. Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation. The owners will be selling.The likes of Wairegi,Mbaru and Munga Those ones are not in a hurry to offload. In fact, if I can recall they were legally locked in for a couple of years after the AfricInvest deal went through. They are mandated to hold a combined stake (don't remember the specific percentage). Combined stake of 20% Can someone help me understand? Africinvest took a bath on their initial investment, but have invested more cash...an approx 10% increase after a 20%_30% drop in their initial 2018 investment?
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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jmbada wrote:Ericsson wrote:rwitre wrote:Ericsson wrote:rwitre wrote:Deep pockets taking advantage of bear to mop up and increae their holdings. a.k.a averaging down kamikaze style Quote:AfricInvest has increased its stake at Britam Holdings to 16.26 per cent, after acquiring 49.3 million shares worth Ksh450 million.
Last year, the private equity firm bought 360.8 million new shares from the underwriter at Ksh5.7 billion.
The aggressive buying spree means that AfricInvestās total investment at Britam stands at Ksh6.2 billion. Meaning when bull run returns there'll be less liquidity (since they are unlikely to sell) and faster price appreciation. The owners will be selling.The likes of Wairegi,Mbaru and Munga Those ones are not in a hurry to offload. In fact, if I can recall they were legally locked in for a couple of years after the AfricInvest deal went through. They are mandated to hold a combined stake (don't remember the specific percentage). Combined stake of 20% Can someone help me understand? Africinvest took a bath on their initial investment, but have invested more cash...an approx 10% increase after a 20%_30% drop in their initial 2018 investment? They have in effect lowered down their buying price and increased their stake. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Britam founders cede control in Mbaru deal https://www.businessdail...78382-36u3lr/index.html
Swiss Re, International Finance Corporation (IFC) and private equity firm Africinvest now hold a combined 40.79 percent stake in Britam compared to the 39.2 percent equity held by the founders, including Mr Mbaru, Peter Munga, Benson Wairegi and James Mwangi. Is it just a matter of time until SwissRe+IFC+Africinvest end up with 50%+1? A Rights Issue should do the trick given many retail investors may shy away. Mbaru has been exiting his position as wellGreedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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VituVingiSana wrote:Britam founders cede control in Mbaru deal https://www.businessdail...78382-36u3lr/index.html
Swiss Re, International Finance Corporation (IFC) and private equity firm Africinvest now hold a combined 40.79 percent stake in Britam compared to the 39.2 percent equity held by the founders, including Mr Mbaru, Peter Munga, Benson Wairegi and James Mwangi. Is it just a matter of time until SwissRe+IFC+Africinvest end up with 50%+1? A Rights Issue should do the trick given many retail investors may shy away. Mbaru has been exiting his position as well Blood on the street.The founders have milked the company dry and are now disposing a sick cow to the foreigners. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Britam CEO Wairegiās pay jumps to Sh81m https://www.businessdail...826-13s1ob6z/index.html
Isn't that more than what JM made at far more profitable Equity? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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It's his business. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 7/1/2014 Posts: 903 Location: sky
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https://www.businessdailyafrica.com/news/Britam-writes-off--HF-investment/539546-5144344-10vileq/index.htmlListed insurer Britam has written off another Sh1.57 billion from its investment in mortgage lender HF Group, raising the booked losses from the investment to Sh3.7 billion in the last three years. Britam said in its 2018 annual report that its financial performance had been affected by both the HF impairment and the general decline in the market last year, which also hit other equity investments. The impairment indicates that Britamās management has little faith in the ability of the bankās stock to rebound to its previous levels. There are only two emotions in the stock market, fear and hope. The problem is, you hope when you should fear and fear when you should hope
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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littledove wrote:https://www.businessdailyafrica.com/news/Britam-writes-off--HF-investment/539546-5144344-10vileq/index.htmlListed insurer Britam has written off another Sh1.57 billion from its investment in mortgage lender HF Group, raising the booked losses from the investment to Sh3.7 billion in the last three years. Britam said in its 2018 annual report that its financial performance had been affected by both the HF impairment and the general decline in the market last year, which also hit other equity investments. The impairment indicates that Britamās management has little faith in the ability of the bankās stock to rebound to its previous levels. Cleaning the closet in preparation of Britam selling off it's stake in HF Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Chief Joined: 1/3/2007 Posts: 18,103 Location: Nairobi
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Ericsson wrote:littledove wrote:https://www.businessdailyafrica.com/news/Britam-writes-off--HF-investment/539546-5144344-10vileq/index.htmlListed insurer Britam has written off another Sh1.57 billion from its investment in mortgage lender HF Group, raising the booked losses from the investment to Sh3.7 billion in the last three years. Britam said in its 2018 annual report that its financial performance had been affected by both the HF impairment and the general decline in the market last year, which also hit other equity investments. The impairment indicates that Britamās management has little faith in the ability of the bankās stock to rebound to its previous levels. Cleaning the closet in preparation of Britam selling off it's stake in HF HF will be better off not being in Britam's stable BUT who would want HF in its current state? NIC-CBA-Jamii KCB-NBK-Imperial SBM-Chase Unless there is a foreign buyer looking for an entry into Kenya and sees HF as a potential rebranding opportunity. The problem of buying a listed firm, and not de-listing, is dealing with many shareholders when one needs to conduct a capital raise. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 12/4/2009 Posts: 10,684 Location: NAIROBI
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Dear Sir, RE:AGENCY TO SELL VARIOUS LAND PARCELS ON BEHALF OF BRITAMWe are pleased to engage you to sell 3 parcels of land on behalf of Britam as follows; 1.LR NO 209/6267 located in Upper Hill.The land measures approx. 2.3 acres and the reserve price is Kes.600mn per acre2.LR NO 12648/93 located in Lukenya along Mombasa Rd.The land measures approx. 172 acres and the reserve price is Kes.11 million per acre3.LR 18048/49/50 located in Mlolongo,along Mombasa rd.The land measures approx. 25 acres and reserve price is Kes.46 million per acre4.Britam Center LR NO 209/10520 located in Upper Hill Nairobi.Land size approx. 1.6 acre,fully developed with an office block,the reserve price is kes.2.24bn5.Olive Garden Plot LR NO 209/380/8 located in Hurlingham,Rose Avenue off Arwings Kodhek Rd.Land approx. 0.6 acres,reserve price kes.280m6.Ngong Land LR NO Ngong/Ngong/46 located in Ngong town measuring approximately 21 acres.The reserve price is kes.1 billion NB/The commission payable will be 3% of the sale value. Kindly confirm your acceptance of this appointment by responding to this letter.We look forward to hearing from you soonest. Yours faithfully Britam properties LtdRaphael MwitoAG. General Managerhttps://i0.wp.com/www.ka...itam.png?w=560&ssl=1Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: New-farer Joined: 1/4/2019 Posts: 69 Location: Nairobi
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[quote=Ericsson]Dear Sir, RE:AGENCY TO SELL VARIOUS LAND PARCELS ON BEHALF OF BRITAMWe are pleased to engage you to sell 3 parcels of land on behalf of Britam as follows; 1.LR NO 209/6267 located in Upper Hill.The land measures approx. 2.3 acres and the reserve price is Kes.600mn per acre2.LR NO 12648/93 located in Lukenya along Mombasa Rd.The land measures approx. 172 acres and the reserve price is Kes.11 million per acre3.LR 18048/49/50 located in Mlolongo,along Mombasa rd.The land measures approx. 25 acres and reserve price is Kes.46 million per acre4.Britam Center LR NO 209/10520 located in Upper Hill Nairobi.Land size approx. 1.6 acre,fully developed with an office block,the reserve price is kes.2.24bn5.Olive Garden Plot LR NO 209/380/8 located in Hurlingham,Rose Avenue off Arwings Kodhek Rd.Land approx. 0.6 acres,reserve price kes.280m6.Ngong Land LR NO Ngong/Ngong/46 located in Ngong town measuring approximately 21 acres.The reserve price is kes.1 billion NB/The commission payable will be 3% of the sale value. Kindly confirm your acceptance of this appointment by responding to this letter.We look forward to hearing from you soonest. Yours faithfully Britam properties LtdRaphael MwitoAG. General Managerhttps://i0.wp.com/www.ka...tam.png?w=560&ssl=1[/quote] They say 3 parcels for sale but have 6 listed... hoping this isn't how they do their accounts..
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Briatm, Britam, Britam sounds like sweet candy!
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