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PKoli
#431 Posted : Monday, June 11, 2012 10:27:14 AM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
Hunderwear wrote:
It is not yet out,it will be posted.they told me they will post it on their webste.With only a week left!!!!!!!!!!!!...........from twira


Has anyone talked to the CIC guys at Upper Hill?
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jerry
#432 Posted : Monday, June 11, 2012 2:02:02 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
PKoli wrote:
Hunderwear wrote:
It is not yet out,it will be posted.they told me they will post it on their webste.With only a week left!!!!!!!!!!!!...........from twira


Has anyone talked to the CIC guys at Upper Hill?

Is the listing on 19th irrevocable?
The opposite of courage is not cowardice, it's conformity.
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jerry
#433 Posted : Monday, June 11, 2012 3:36:39 PM
Rank: Elder

Joined: 9/29/2006
Posts: 2,570
CIC is now very active on twitter pertaining the listing.
The opposite of courage is not cowardice, it's conformity.
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GenghisCapitalLtd
#434 Posted : Monday, June 11, 2012 4:08:35 PM

Rank: Bona-fide

Joined: 11/2/2011
Posts: 191
Location: Nairobi
Listing offer price at 3.50 (8% discount of average 6 month OTC price of 3.80). About IM still not yet done!! Good company though; really good numbers!
Follow us on Twitter @genghiscapital
“Be a yardstick of quality. Some people aren’t used to an environment where excellence is expected.” Steve Jobs,iGenius
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Ngundi
#435 Posted : Monday, June 11, 2012 7:43:37 PM
Rank: Member

Joined: 5/8/2008
Posts: 20
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guru267
#436 Posted : Monday, June 11, 2012 8:27:36 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
GenghisCapitalLtd wrote:
Good company though; really good numbers!


@genghis what is the basis of these assertions?? What other insurance companies have you compared CIC to??

Mark 12:29
Deuteronomy 4:16
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Hunderwear
#437 Posted : Monday, June 11, 2012 8:50:38 PM
Rank: Member

Joined: 4/14/2011
Posts: 639
e_kijana wrote:
from Co-op Q1 results:
Share of profits from associate - CIC in Q1 is at a Massive Ksh 121M

Considering that Co-op owns ~26% of CIC, It means that CIC Q1 profits is Ksh 465M. They have achieved in Q1 slightly more that half what they achieved in 4 quarters OF 2011. This will be a muscular yar for CIC!!


C P from http://www.businessdaily.../-/gelypdz/-/index.html

CIC Insurance on Monday announced a 47 per cent increase in net profit for the first three months of 2012 ahead of the planned listing at the Nairobi Securities Exchange (NSE).
The insurer earned Sh457 million net profit from Sh320 million in the first quarter of 2011, which was driven by an increase in revenues to Sh2.36 billion from Sh1.84 billion.
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hisah
#438 Posted : Monday, June 11, 2012 8:58:41 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Listing postponed, but huge Q1 2012 profits! I'm usually skeptical of listings done after rosy results...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Hunderwear
#439 Posted : Monday, June 11, 2012 9:16:09 PM
Rank: Member

Joined: 4/14/2011
Posts: 639
hisah wrote:
Listing postponed, but huge Q1 2012 profits! I'm usually skeptical of listings done after rosy results...


Me too but with cic aint worried abit...reason they have been sitting on all the cash they raised in the rights issue and I expected a huge profit last year which didnt happen so this year should be huge enough otherwise the funds raised make no sense
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e_kijana
#440 Posted : Monday, June 11, 2012 11:09:10 PM
Rank: Member

Joined: 1/17/2009
Posts: 55
Confusion galore... I read the BD article and was asking myself why Faida's (transaction advisor) head of research would be announcing this as if CIC doesnt have a PR department. In any case if this resposibility had actually been ceded to Faida (which I highly doubt), The head of research is the least qualified person to announce - this is a geek, completely out of his waters here.

Faida is out of its league considering CIC MD had an investor briefing and did not mention this.
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