Ebenyo wrote:alotoftalk wrote:My initial thought was Munga flipping his "Rawat" shares to IFC. But if these are newly created shares being subscribed for (j.mp/2i4HTa0) then my guess is that they ran into capital adequacy issues after resetting their FY reserves based on gross premium valuation methodology (which they adopted in the current year) plus mark-to-market of their portfolio and impairment of some of KES 3.2 Bn in deposits held with financial institutions a proportion of which must be at either Chase or Imperial.
The dilution by IFC therefore became a necessary evil.
The subscription date of 30/12/2016, a day just before the FY books close (31/12/2016) is also an interesting tidbit.
They have played their game smart enough to hoodwink ignorant shareholders.
When somebody hears 'world bank',feels like Jesus coming to your house physically to dine with u.
This is massive dillution,and sooner or later there will be price correction.
When KQ's MJ was joining the board, the market in its rendition perceived him as contemporary Jesus Christ of Nazareth. As a matter of fact the rally following the announcement afforded the likes of @Obiero to double their income. Equally traders are most likely to make a killing after IFC expressed interest in Britam stake. ..
John 5:17 But Jesus replied, “My Father is always working, and so am I.”