Front running has created quite a number of billionaires in Kenya.

Munga should buy britam 100%.

why buy at 19 while the same trades at 13.55.. makes no sense sir

I think the price was below market price. I agree with @vvs because if it was 19/- immediate disclosure could have been made to the public to trigger a rally. WHY keep quiet on the price leaving everybody guessing? WHY monkey business in a listed company?

Mungas fear that if the discounted price he took home the stake with is known a disastrous nosedive is possible exfoliating all the anticipated gains from the strategic investor. The fear of NSE's sentimental Wanjiku could trigger a bloodbath to coincide with @hisah's lunatic theory.

@spikes. Following up on your post to the Centum thread regarding Britam.

You wrote:
“Britam Malawi(Real insurance) I think was closed following persistent losses. It was Real insurance which Britam (K) acquired 2014 that invigorated the share price to 40/-, the highest in this insurer's history. Britam abroad like in Kenya is facing unprecedented challenges from old folks, unable to steer change, at the helm . A paltry dividend announced recently of mere kes 0.30 was to blindfold the investors and speculators alike when financial statements were slapped and bled with staggering loss of more than 50% under. Now comes a purchase of 23% stake of the Mauritian fugitive Dawood Rawat who has till today filed a suit in the international court seeking compensation up to $1 billion from his government for illegal seizure of his assets following claims of running Ponzi pyramid scheme. It is not clear how the sword of justice will rip off the activities of the parties involved in this stake most likely sending panic ripples across the owners of the troubled establishment. The only room left for accommodation in this counter is speculation. Lets sit and watch how events keep unfolding.”

My response:
(1.) Britam Malawi was not shut down, nor was it showing persistent losses. Check the Real Insurance annual reports prior to acquisition and the Britam reports since. Revenue and profit are both growing quite well. It was delisted from the Malawi Stock Exchange after becoming a wholly-owned subsidiary (65% was acquired in Real deal, 35% subsequently from owners of Real Insurance Malawi shares) and rebranded under Britam, but operations certainly continue. (2.) As for your comments regarding Britam abroad, the regional units contribution in FY15 was Shs 4 billion, an increase of 152.7% from FY14’s Shs 1.6 billion. (3.) Dividend was held steady. This was appropriate and the "huge losses" were paper losses on investment holdings due to accounting rules. Core numbers looked great. (4.) Rawat’s lawsuit is directed at the Mauritian government in any case, it bears no risk for Britam. I gather he has no chance of prevailing, but even if he were to do so, damages would be awarded from Mauritius government, not Britam. Finally, Munga's decision to acquire Rawat's former stake is a huge vote of confidence in the company, a sentiment I share.

Upward leg is lost completely!

where is this somewhere.. meeting room at CDSC ama hawa hawana CDS accounts. the claim you make is a serious one

@TheGeek
Of course equity bank was the financier of the buyout.
Welcome to the world of crookedness and impunity where euity bank is to be used to finance deals which you can't imagine

@Realtreaty
Which is this land belonging to Barclays that they might book if it goes under hammer