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What is happening to CFC
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jkmaich
#1 Posted : Wednesday, April 13, 2011 8:41:56 AM
Rank: New-farer


Joined: 4/5/2011
Posts: 14
i am looking at CFC drop with no significant news to justify the drop apart from this which i don't know what it means

"Dividend in specie' in the ratio of 1 share in CFCIH for every 1 share held in CSH. Books closure 08-Apr-2011. Distribution of dividend 20-Apr-2011 - [10 Mar 2011]"
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mlennyma
#2 Posted : Wednesday, April 13, 2011 8:52:42 AM
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Joined: 7/21/2010
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Location: nairobi
Is it true the insurance will be introduced at 6bob and is this price worth it?
"Don't let the fear of losing be greater than the excitement of winning."
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the deal
#3 Posted : Wednesday, April 13, 2011 9:03:36 AM
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Joined: 9/25/2009
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Location: Windhoek/Nairobbery
all questions on CFC direct them @Mukiha
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mukiha
#4 Posted : Wednesday, April 13, 2011 11:11:30 AM
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jkmaich wrote:
i am looking at CFC drop with no significant news to justify the drop apart from this which i don't know what it means

"Dividend in specie' in the ratio of 1 share in CFCIH for every 1 share held in CSH. Books closure 08-Apr-2011. Distribution of dividend 20-Apr-2011 - [10 Mar 2011]"

This is the effective date that CFC-IH will be split from CFC-SH. Only those in the register on this date will get CFC-IH shares.

Approx 10% of the assets of CFC-SH will now go to CFC-IH hence the reduced price.

CFC-IH will list on 20th April. The introduction price for CFC-IH is Sh6.157 - is base on average paid by Liberty and African Liaison for their controlling stakes in CFC-IH [less 11%]

NAV as at 30 Jun 2010 = 6.48
HY EPS at 30 Jun 2010 = 0.54 [fy 31/12/10 not available]
Assumed P/E on listing date = 5.7
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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the deal
#5 Posted : Wednesday, April 13, 2011 11:35:55 AM
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@Mukiha thanks for the info but how did u derive your half year EPS?
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jkmaich
#6 Posted : Wednesday, April 13, 2011 11:52:16 AM
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so would any of you consider buying and if yes at what price and when
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xxxxx
#7 Posted : Wednesday, April 13, 2011 1:04:43 PM
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Joined: 3/20/2008
Posts: 503
the deal wrote:
@Mukiha thanks for the info but how did u derive your half year EPS?


Based on the 31 December 2011 accounts for CFC Insurance Holdings,the full year eps for 2010 was 0.54 hence, I would assume the half year eps to be 0.27....but I may be wrong or too simplistic.
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xxxxx
#8 Posted : Wednesday, April 13, 2011 1:12:04 PM
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jkmaich wrote:
so would any of you consider buying and if yes at what price and when


.....surely CFC Stanbic Holdings is now trading at 58. G

iven an EPS of 12.1 for 2010 for the bank and a PE of 4.79,the share is being excessively punished (andthis may go on for quite some time). Don't think their prospects are that bad even with our competitive landscape in the banking sector.

It should be a darling for the speculators and even long term investors who are not faint hearted.
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QW25071985
#9 Posted : Wednesday, April 13, 2011 1:57:26 PM
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Joined: 3/25/2011
Posts: 946
@ mwanahisa .ur predictions abt c.f.c are coming out to be very true.just look at its free fall. Lol.
I am waiting for the stock at 50 bob.
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mukiha
#10 Posted : Wednesday, April 13, 2011 2:43:52 PM
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the deal wrote:
@Mukiha thanks for the info but how did u derive your half year EPS?

Lifted directly from the information memo sent out recently
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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hisah
#11 Posted : Wednesday, April 13, 2011 4:50:48 PM
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Joined: 8/4/2010
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I hope it gets back to 40/- like it did in March 2010. That's where the big boyz are...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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invest0r
#12 Posted : Wednesday, April 13, 2011 11:13:53 PM
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Joined: 12/15/2010
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hisah wrote:
I hope it gets back to 40/- like it did in March 2010. That's where the big boyz are...

... and some big boyz also bought it at 38 in the same month
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VituVingiSana
#13 Posted : Thursday, April 14, 2011 1:33:08 AM
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Joined: 1/3/2007
Posts: 18,220
Location: Nairobi
When you compare CFCStanbic [the Bank] vs its peers e.g. NIC, DTBK, I&M, CBA... it has flunked in most measures!

The Balance Sheet may be larger due to various 'large' customers but it ends there. The other mid-market banks are growing much faster!

DTB - Kenya, Uganda, Tanzania, Burundi [& expects to grow regionally]
NIC - Kenya, Tanzania
I&M - Kenya, Tanzania, Mauritius [Raised 2.4bn in Nov 2010]
CBA - Kenya but has connections due to kenyatta family

These mid-tier [& smaller] banks are eating away at CFCStanbic. I expect DTBK, NIC + I&M to be bigger than CFCStanbic [assets] by 2015. Already they make more PAT than CFCStanbic!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#14 Posted : Thursday, April 14, 2011 2:09:46 AM
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Joined: 1/3/2007
Posts: 18,220
Location: Nairobi
When you compare CFCStanbic [the Bank] vs its peers e.g. NIC, DTBK, I&M, CBA... it has flunked in most measures!

The Balance Sheet may be larger due to various 'large' customers but it ends there. The other mid-market banks are growing much faster!

DTB - Kenya, Uganda, Tanzania, Burundi [& expects to grow regionally]
NIC - Kenya, Tanzania
I&M - Kenya, Tanzania, Mauritius (Raised 2.4bn in Nov 2010)
CBA - Kenya but has connections due to kenyatta family

These mid-tier [& smaller] banks are eating away at CFCStanbic. I expect DTBK, NIC + I&M to be bigger than CFCStanbic [assets] by 2015. Already they make more PAT than CFCStanbic!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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the deal
#15 Posted : Thursday, April 14, 2011 7:55:45 AM
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Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
@Mukiha can you please send me the info memo @ youngvet07@gmail.com those numbers you have put there are quite good...thanks in advance.
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jkmaich
#16 Posted : Thursday, April 14, 2011 8:14:34 AM
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Joined: 4/5/2011
Posts: 14
Considering everything I think the best bank to invest in on long-term basis is NIC its price and ability to grow is good
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erifloss
#17 Posted : Thursday, April 14, 2011 8:38:56 AM
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Joined: 6/21/2010
Posts: 514
Location: Nairobi
Guys this share might still go low coz its not the bank that will remain as listed but its parent company & the CFCIH. So while speculating don't use the bank's numbers directly coz you might be misled...
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
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MaichBlack
#18 Posted : Thursday, April 14, 2011 1:43:45 PM
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Joined: 7/22/2009
Posts: 7,566
hisah wrote:
I hope it gets back to 40/- like it did in March 2010. That's where the big boyz are...

Seriously!? Keep waiting.
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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mukiha
#19 Posted : Thursday, April 14, 2011 2:53:24 PM
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Joined: 6/27/2008
Posts: 4,114
As at 2:50pm...
DEMAND 16,800
SUPPLY 4,000

LAST DEAL @ 63.50; 1,000 shares

Do you expect it to go to 40?
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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PKoli
#20 Posted : Thursday, April 14, 2011 3:35:21 PM
Rank: Elder


Joined: 2/10/2007
Posts: 1,587
I do not expect the share to go below 60. I know a few shares were traded below 60, but this was exepcted after demaerger. A number of people expected the share to behave like 1;1 split. I think the bank should show some upsurge after underperforming for a while.I believe the price will soon return to the 80s and above. No fundamentals to qualofy my feelings though.
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