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Is Uganda's Umeme IPO a Bargain?
mwekez@ji
#41 Posted : Thursday, December 13, 2012 9:06:12 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
link? to pdf copy of the Q3 2012 results we crunch the numbers
mwekez@ji
#42 Posted : Friday, December 14, 2012 5:19:02 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
So, those words on the press release are what UMEME is calling quarterly report. No numbersᶗ Talk of courting press more than the shareholders. Poor shareholders
the deal
#43 Posted : Friday, December 14, 2012 7:24:10 AM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mwekez@ji wrote:
So, those words on the press release are what UMEME is calling quarterly report. No numbersᶗ Talk of courting press more than the shareholders. Poor shareholders

I think it was time you took your ignorance somewhere else...I see nothing wrong with Umeme giving shareholders an update...their level of disclosure & investor relations has been top notch thus far...FYI theyre not oblidged to produce Quarterly results theyre not a bank!
mwekez@ji
#44 Posted : Friday, December 14, 2012 7:48:02 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
the deal wrote:
mwekez@ji wrote:
So, those words on the press release are what UMEME is calling quarterly report. No numbersᶗ Talk of courting press more than the shareholders. Poor shareholders

I think it was time you took your ignorance somewhere else...I see nothing wrong with Umeme giving shareholders an update...their level of disclosure & investor relations has been top notch thus far...FYI theyre not oblidged to produce Quarterly results theyre not a bank!


Look at the pot calling the kettle black .... truly ignorant .... you should know what is top notch quarterly disclosure .... its not that press release .... n'way, we are all in this for the money, welcome to nse (crosslist)
VituVingiSana
#45 Posted : Friday, December 14, 2012 12:55:34 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
"Umeme announces strong operating and financial results as it prepares for its cross listing on the Nairobi Securities Exchange"

http://umeme.co.ug/downl...ross-list%20release.pdf

Are these guys serious? This is a fluff piece without sufficient details! It would have made sense to publish proper quarterly results so folks can analyze them. Or is that why it has not been published?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#46 Posted : Friday, December 14, 2012 12:58:59 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Do the shares need to be 'immobilized' or 'transferred' to CDSC/Kenya before they can be sold?

BIDS 50,000
Quantity Price Splits Time
10,000 8.75 1 11:04:21
25,000 2.05 1 11:04:21
15,000 2.00 2 11:04:21
- - - -
- - - -
ASKS -
Quantity Price Splits Time
- - - -
- - - -
- - - -
- - - -
- - - -
TRADES
Quantity Price Time
- - -
- - -
- - -
- - -
- - -
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
hisah
#47 Posted : Friday, December 14, 2012 1:51:16 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
VituVingiSana wrote:
Do the shares need to be 'immobilized' or 'transferred' to CDSC/Kenya before they can be sold?

BIDS 50,000
Quantity Price Splits Time
10,000 8.75 1 11:04:21
25,000 2.05 1 11:04:21
15,000 2.00 2 11:04:21
- - - -
- - - -
ASKS -
Quantity Price Splits Time
- - - -
- - - -
- - - -
- - - -
- - - -
TRADES
Quantity Price Time
- - -
- - -
- - -
- - -
- - -


I've just noticed the Umeme ticker on RichLive. Has the crosslisting already happened?
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
VituVingiSana
#48 Posted : Friday, December 14, 2012 2:06:15 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
hisah wrote:
VituVingiSana wrote:
Do the shares need to be 'immobilized' or 'transferred' to CDSC/Kenya before they can be sold?

BIDS 50,000
Quantity Price Splits Time
10,000 8.75 1 11:04:21
25,000 2.05 1 11:04:21
15,000 2.00 2 11:04:21
- - - -
- - - -
ASKS -
Quantity Price Splits Time
- - - -
- - - -
- - - -
- - - -
- - - -
TRADES
Quantity Price Time
- - -
- - -
- - -
- - -
- - -


I've just noticed the Umeme ticker on RichLive. Has the crosslisting already happened?
Yes but apparently the shares have not been uploaded on CDSC so you can buy but not sell!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mwekez@ji
#49 Posted : Monday, December 17, 2012 10:23:45 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Umeme cross listing Informantion Memorandum

http://umeme.co.ug/downloads/Um...%2012th%20dec%202012.pdf
mwekez@ji
#50 Posted : Monday, December 17, 2012 10:27:38 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
According to the information memorandum, 34.33 million shares or 2.11 per cent of issued shares of the power distributor were held by individuals with Kenyan addresses. They have to open electronic accounts to be eligible for allocation.

These investors will now transfer those shares, which are currently in electronic form, into a physical certificate, bring the document to Nairobi and convert them again into electronic form so as to trade.

Peter Muthaura, acting chief executive officer Capital Markets Authority, said the regulators were reviewing the structure and implementation could start by the end of the first quarter of next year.

http://www.businessdailyafrica....54/-/ubon24/-/index.html
the deal
#51 Posted : Monday, December 17, 2012 7:47:55 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Money making machine...Applause Applause Applause
hisah
#52 Posted : Monday, December 17, 2012 9:54:03 PM
Rank: Chief


Joined: 8/4/2010
Posts: 8,977
Umeme shares fail to trade at NSE for second day - http://www.businessdaily...2/-/7pid8z/-/index.html

Quote:
Mr Gould said that at some point in the afternoon there were bids for 10,000 Umeme shares at Sh4.95, which is 43.75 per cent below the Friday listing price of Sh8.80 per share.


Umeme’s shares, which were listed by introduction, have not traded at all, which means they have not yet set the reference point on which the 10 per cent limit will be based.


$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
the deal
#53 Posted : Monday, December 17, 2012 10:19:04 PM
Rank: Elder


Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
hisah wrote:
Umeme shares fail to trade at NSE for second day - http://www.businessdaily...2/-/7pid8z/-/index.html

Quote:
Mr Gould said that at some point in the afternoon there were bids for 10,000 Umeme shares at Sh4.95, which is 43.75 per cent below the Friday listing price of Sh8.80 per share.


Umeme’s shares, which were listed by introduction, have not traded at all, which means they have not yet set the reference point on which the 10 per cent limit will be based.




“There was no stock available for trading. It may take some time before we see a trade,” said Alistair Gould, head of trading and product development at Old Mutual Securities.


So how do you expect it to trade? For a trade to occur someone has to sell his shares...if no one is selling their shares there will be no trade since this is a listing by introduction...to make it worse its a cross listing!
mwekez@ji
#54 Posted : Wednesday, December 19, 2012 8:30:41 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
@USE, reading Zero demand Vs 2,872,092 supply link
@NSE, Unlikely to trade for a long time

@the deal, not a good position that
mwekez@ji
#55 Posted : Wednesday, January 02, 2013 10:42:04 AM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Kenyan blue chips lift Uganda stock market valuation

http://www.businessdailyafrica....8/-/5itqeiz/-/index.html



.


Does the kenyan crosslisted counters ever trade in the crosslisted markets or they get zero trades like Umeme crosslisting in NSE?
VituVingiSana
#56 Posted : Thursday, January 03, 2013 4:50:34 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
The same thing happened to KPLC. Right after the Rights Issue, the proposed Power Hike was 'delayed' for political purposes.

Government delays higher power tariffs. The government has delayed the increase of electricity tariffs, which was to be effected in two weeks. Officials from the Finance ministry met their counterparts from the Electricity Regulatory Authority (ERA) and agreed to the temporary relief for power consumers in order to allow further consultations. ERA was scheduled to increase tariffs for domestic consumers, commercial consumers, medium industries, large industries and streetlights by 7%, 7.8%, 1.5%, 4.5% and 11.7% respectively. On top of the increase, ERA was planning to roll out a new system of computing tariffs every month based on underlying economic data, such as inflation and the exchange rate. Industry sources say the country will soon have to fall back on the more expensive thermal power, with Uganda Electricity Generation Company warning that surplus energy from the Bujagali plant will soon be exhausted. Thermal electricity costs USD 0.29 (UGX 779.5) compared with hydro’s average USD 0.10 (UGX 268.8). Power transmission and distribution companies transfer such costs to the consumers. Some consumers have also argued that in spite of a previous increment of tariffs in January 2012, there has been no substantial improvement in the supply of electricity and they now face endless power outages, which Umeme attributes to routine maintenance of the networks rise depending on the state of the economy.(Source : The Daily Monitor) Will UMEME eat the 'loss' or deferred revenue?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#57 Posted : Thursday, January 03, 2013 5:04:11 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,103
Location: Nairobi
Plenty of offers of UMEME shares at 300. The UGX is now 2,710 to USD.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
mwekez@ji
#58 Posted : Thursday, January 03, 2013 5:37:52 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
VituVingiSana wrote:
Plenty of offers of UMEME shares at 300.

Where are you getting this data Bwana VVS?
Kaffir
#59 Posted : Thursday, January 03, 2013 5:43:28 PM
Rank: Member


Joined: 5/8/2008
Posts: 77
Institutional Umeme demand is still too strong - supply at 275 is slowly drying up
mwekez@ji
#60 Posted : Thursday, January 03, 2013 5:50:02 PM
Rank: Chief


Joined: 5/31/2011
Posts: 5,121
Kaffir wrote:
Institutional Umeme demand is still too strong - supply at 275 is slowly drying up

Where are you getting this data? Am reading no trades today. demand is zero and supply is firm at 1,313,100 shares http://www.use.or.ug/documents/...ET_REPORTJan_03-2013.pdf
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