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Is Uganda's Umeme IPO a Bargain?
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guru267
#71 Posted : Sunday, January 13, 2013 5:28:50 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
VituVingiSana wrote:
guru267 wrote:
VituVingiSana wrote:
guru267 wrote:
VituVingiSana wrote:
So the whole nonsense about cross-listing on the NSE is just that. Nonsense. 3 weeks since the 'cross-listing' and not a single trade on the NSE.

UGX/KES is 31 while UGX/USD is now 2710

I thought the Kenyan shareholders haven't received their converted share certificates yet... That's why it ain't trading!
So... what was the whole dog & pony show by UMEME 3 weeks ago about? Why not wait till Kenyan shareholders received their "converted share certificates"?
What are "converted share certificates"?

im not sure myself.. Maybe the par value is converted to Ksh smile

But what i do know for sure is that the Kenyan shareholders haven't yet received their certificates!
But Kenyans cannot trade with certificates on the NSE. In fact, certificates are being phased out by the NSE/CDSC. So why not issue Kenyans 'electronic certificates' as is done for NSE-listed shares?


In Uganda physical share certificates are still the order of the day even though they recently went electronic!

Even though share certificates are being phased out on the NSE they are still perfectly legal! Even ARM is still issuing physical share certificates after its split!
Mark 12:29
Deuteronomy 4:16
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VituVingiSana
#72 Posted : Sunday, January 13, 2013 10:48:43 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
guru267 wrote:
VituVingiSana wrote:
guru267 wrote:
VituVingiSana wrote:
guru267 wrote:
VituVingiSana wrote:
So the whole nonsense about cross-listing on the NSE is just that. Nonsense. 3 weeks since the 'cross-listing' and not a single trade on the NSE.

UGX/KES is 31 while UGX/USD is now 2710

I thought the Kenyan shareholders haven't received their converted share certificates yet... That's why it ain't trading!
So... what was the whole dog & pony show by UMEME 3 weeks ago about? Why not wait till Kenyan shareholders received their "converted share certificates"?
What are "converted share certificates"?

im not sure myself.. Maybe the par value is converted to Ksh smile

But what i do know for sure is that the Kenyan shareholders haven't yet received their certificates!
But Kenyans cannot trade with certificates on the NSE. In fact, certificates are being phased out by the NSE/CDSC. So why not issue Kenyans 'electronic certificates' as is done for NSE-listed shares?


In Uganda physical share certificates are still the order of the day even though they recently went electronic!

Even though share certificates are being phased out on the NSE they are still perfectly legal! Even ARM is still issuing physical share certificates after its split!
Ummm, ok... Let me try again. I said "Kenyans cannot trade with certificates on the NSE. In fact, certificates are being phased out by the NSE/CDSC." So...
1) it is irrelevant if Kenyans are issued certificates by UMEME since they cannot trade on the NSE until immobilized & dematerialized. This might take a few more days or weeks if the certs have to go to Uganda for verification. No idea on the process.
2) Are you sure Kenyans are getting "physical share certificates" after the split by ARM?

Can anyone else in Kenya confirm (2) above?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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  | | Edit by user: Sunday, January 13, 2013 10:54 AM | Reason: Not specified
Cde Monomotapa
#73 Posted : Sunday, January 13, 2013 10:52:44 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
Be patient. Eish...
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Kaffir
#74 Posted : Sunday, January 13, 2013 12:53:55 PM
Rank: Member

Joined: 5/8/2008
Posts: 77
Hehe..
Anyway, i think it is a bureaucratic issue. Cross listing has always been from NSE to USE - this is the first time it is being tried out the other way round. I would assume the process is something like
1. The SCD shares are immobilized in Uganda, and certificates prepared by USE
2. USE prepared certificates are brought to Kenya NSE, which then register them and prepare Kenya certificates
3. Kenya certificates are immobilised on request, to allow trading.
Too many opportunities for bureaucratic bottlenecks in this process, so it is taking its sweet time. Easier to just sell the shares in Uganda (maybe thats what USE is trying to encourage).
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hisah
#75 Posted : Sunday, March 03, 2013 12:04:30 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Quite murky this one - http://www.monitor.co.ug...6/-/4hdovcz/-/index.html
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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the deal
#76 Posted : Friday, May 03, 2013 4:35:51 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Where are the haters? It closed at UGX345 today. Waiting for bandwagoners to sing praise soon.
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mwekez@ji
#77 Posted : Friday, May 03, 2013 7:51:09 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
the deal wrote:
Where are the haters? It closed at UGX345 today. Waiting for bandwagoners to sing praise soon.


25% gain only since the ipo in Nov 2012. At NSE, over the same time, 10 companies have gained by over 50%, 7 companies by >35-50% and 9 companies by >26-35%. .... what were you asking again?
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the deal
#78 Posted : Friday, May 03, 2013 10:03:00 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mwekez@ji wrote:
the deal wrote:
Where are the haters? It closed at UGX345 today. Waiting for bandwagoners to sing praise soon.


25% gain only since the ipo in Nov 2012. At NSE, over the same time, 10 companies have gained by over 50%, 7 companies by >35-50% and 9 companies by >26-35%. .... what were you asking again?

LOL don't compare Umeme to the NSE where it has not even traded yet...compare apple to apple...USE Vs NSE...Umeme Vs Kenya Power..so how has Umeme performed compared to Kenya Power?...btwn Umeme just got started...more headroom going forward....offcourse I see you joining the bandwagon soon...
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  | | Edit by user: Friday, May 03, 2013 10:05 PM | Reason: Not specified
VituVingiSana
#79 Posted : Friday, May 03, 2013 10:18:31 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
the deal wrote:
mwekez@ji wrote:
the deal wrote:
Where are the haters? It closed at UGX345 today. Waiting for bandwagoners to sing praise soon.


25% gain only since the ipo in Nov 2012. At NSE, over the same time, 10 companies have gained by over 50%, 7 companies by >35-50% and 9 companies by >26-35%. .... what were you asking again?

LOL don't compare Umeme to the NSE where it has not even traded yet...compare apple to apple...USE Vs NSE...Umeme Vs Kenya Power..so how has Umeme performed compared to Kenya Power?...btwn Umeme just got started...more headroom going forward....offcourse I see you joining the bandwagon soon...
Unlike @thedeal I am not the sharpest tool in the shed. What was the exchange rate of UGX/KES at the time of listing of UMEME on the USE?

1) What was UMEME's price in KES at the time of listing?
2) What is UMEME's price in KES today?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mwekez@ji
#80 Posted : Friday, May 03, 2013 10:24:17 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
the deal wrote:
mwekez@ji wrote:
the deal wrote:
Where are the haters? It closed at UGX345 today. Waiting for bandwagoners to sing praise soon.


25% gain only since the ipo in Nov 2012. At NSE, over the same time, 10 companies have gained by over 50%, 7 companies by >35-50% and 9 companies by >26-35%. .... what were you asking again?

LOL don't compare Umeme to the NSE where it has not even traded yet...compare apple to apple...USE Vs NSE...Umeme Vs Kenya Power..so how has Umeme performed compared to Kenya Power?...btwn Umeme just got started...more headroom going forward....offcourse I see you joining the bandwagon soon...


LOL we are in the market to make money. whether its NSE or USE, making money is the bottom line and many NSE counters have beaten Umeme share gain hands down
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