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buying CIC at kes 38
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PKoli
#21 Posted : Wednesday, August 18, 2010 2:00:22 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
hisah wrote:
This will be very few shares (20M) for the class B shareholders and most will likely to be gobbled up by the class A members (Saccos). Rumour has it that the listing might be in 2012 - 2013. But the move to capitalize the share-holding to Ksh 1B and break up life and general insurance biz is smart just like CFC smile


Why would they wait to list in 2012-2013?

They should also increase the number of shares vide split or bonus before listing
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hisah
#22 Posted : Friday, August 20, 2010 4:30:47 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
PKoli wrote:
hisah wrote:
This will be very few shares (20M) for the class B shareholders and most will likely to be gobbled up by the class A members (Saccos). Rumour has it that the listing might be in 2012 - 2013. But the move to capitalize the share-holding to Ksh 1B and break up life and general insurance biz is smart just like CFC smile


Why would they wait to list in 2012-2013?

They should also increase the number of shares vide split or bonus before listing


That is the word on the ground when they expect to be ready for listing. The special AGM is meant to address the share increment issue before the public listing can be considered. I like the fact that they hold a large chunk of Coop shares (@ ksh1.10) long before it was listed.
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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PKoli
#23 Posted : Friday, August 20, 2010 4:55:16 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
hisah wrote:
PKoli wrote:
hisah wrote:
This will be very few shares (20M) for the class B shareholders and most will likely to be gobbled up by the class A members (Saccos). Rumour has it that the listing might be in 2012 - 2013. But the move to capitalize the share-holding to Ksh 1B and break up life and general insurance biz is smart just like CFC smile


Why would they wait to list in 2012-2013?

They should also increase the number of shares vide split or bonus before listing


That is the word on the ground when they expect to be ready for listing. The special AGM is meant to address the share increment issue before the public listing can be considered. I like the fact that they hold a large chunk of Coop shares (@ ksh1.10) long before it was listed.



Thanks mwana hisa for the info. They hold a sizeable chunk of Coop shares and insure the Coop bank loans and ofcourse the saccos. This is really a stable company and bright future. They should be sending out information memorandum to shareholders. I see a ten bagger stock in CiC!
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PKoli
#24 Posted : Sunday, August 22, 2010 12:47:59 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
Any one gearing to attemd CiC EGM?
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blaqlegend
#25 Posted : Wednesday, August 25, 2010 12:58:29 PM
Rank: New-farer

Joined: 8/5/2010
Posts: 20
Location: Nairobi
any idea when class A shareholders could bail out in case of public listing....2016 or beyond?...what was the case with Coop bank shareholders?
natafuta hii gitu sana!!!
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PKoli
#26 Posted : Wednesday, August 25, 2010 1:06:40 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
blaqlegend wrote:
any idea when class A shareholders could bail out in case of public listing....2016 or beyond?...what was the case with Coop bank shareholders?
natafuta hii gitu sana!!!


No idea, may be we wait for the EGM and see if there will be mentions of that. I doubt if they will want to bail out soon, since value unlocking will come many years after listing. In any case, unlike retailers they are hungry for cash. So I see very few free flot. No wonder, only current class B shareholders and new ones will be offered new shares.

@Blaq - When do you expect public listing? I am in but want more shares
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blaqlegend
#27 Posted : Wednesday, August 25, 2010 1:18:51 PM
Rank: New-farer

Joined: 8/5/2010
Posts: 20
Location: Nairobi
PKoli wrote:
This might have eluded us today. I never read the paper in the morning and so missed out. I have been wondering why CiC has been alot of marketing lately. From posters to newspapers, they have been having fantastic marketing. I now know why;

In today's papers, they have announced an EGM on September 17th to discuss among other issues:

1. Demerger of life and general business
2. Change of name and conversion
3. Increase of share capital..That the authorised share capital of the company be increased from KES 600M to KES 1000M divided into 50M shares of KES 20 each by creation of 20M ordinary shares of KES 20.
4. That the Board be hereby authorised to issue and allot the unissued share capital of the Company to the existing Class B shareholders and to new shareholders at such a price and such terms as they deem most beneficial to the Company.


@Pkoli my thoughts are that they want to authorize the board to issue to class B and others(public) at a small premium incase class A don't finish them up.
my source tells me that staff(hence coop sacco members/class A) have been offered at Ksh 22.5 each.
I do intend to get some thro one member and since they'll be class A,i suspect it may take me long to recoup but for all its worth....I'M SO IN!!
i'm looking at a 7-10 year window-hope i'll be alive!Pray
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PKoli
#28 Posted : Wednesday, August 25, 2010 1:30:25 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
@blaqlegend,

If you look at resolution number 4, it only talks about class B shareholders. Class A shareholders are Coop sacco socities, Class B are individual sacco members.

My question is whether you are already a member of any sacco and if you have any CiC shares? If so you will be offered a chance to buy more shares. My thinking is that existing shareholders will be offered at a premium as opposed to new shareholders. Sacco socities will not participate since they already hod a significant chunk of the shares. Let us wait for 15th Sept resolutions
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blaqlegend
#29 Posted : Wednesday, August 25, 2010 1:35:41 PM
Rank: New-farer

Joined: 8/5/2010
Posts: 20
Location: Nairobi
only have 400 but my biz partner is a sacco member so i guess the extra ones will be class B shares....15th sept seems like a zillion years away!
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PKoli
#30 Posted : Wednesday, August 25, 2010 1:39:55 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
blaqlegend wrote:
only have 400 but my biz partner is a sacco member so i guess the extra ones will be class B shares....15th sept seems like a zillion years away!


How did you get the 400 if you are not a sacco member? In any case, they were being issued at lots of 500
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