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Sasha
#61 Posted : Friday, October 29, 2010 12:32:05 PM
Rank: Veteran

Joined: 9/5/2007
Posts: 627
@Ericsson: For the sake of PKoli and myself (and everyone who's been accumulating CIC) I pray that your projection is on point!

@Bugatti & PKoli: What worries me about the CIC board is that these mzees are very politically inclined and have not been for the idea of listing the company. Remember CIC's shareholding is drawn from Cooperative Societies who are represented on the board by their elected directors. I have it on good authority from a CIC senior manager that they have not been very enthused by the listing idea as they lose control of the company. Fortunately for us, Kuria is very headstrong and determined to have the company listed. Hopefully Coop Bank pushes them to list pre-2013 (but not until I have enough!).

I will take up my full rights and will continue hunting for more! I have a plan in mind and I hope to execute in to perfection after the closure of the rights issue!
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PKoli
#62 Posted : Friday, October 29, 2010 1:22:54 PM
Rank: Elder

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

I hope Erickson's projections come true. I will also be a beneficiary. I think CIC has the impetus to produce good results.

On the point about Wazees on the board, I think this is mainly from the Sacco business. A number are representing their saccos. Fortunately saccos are being streamlined and going forward we are likely to see better governance in the management of these saccos. This will only augur well for CIC.

Kudos to Nelson Kuria, he has done a fantastic job at the helm of CIC and he means well for the company. Selling shares to Coop bank was a great idea, since strategic decisions will surely come from Coop.

Remember even Coop went IPO with all the Wazees on the board, so will CIC.

My strategy is just to keep buying these shares after the rights.
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PKoli
#63 Posted : Saturday, October 30, 2010 12:39:19 AM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
CIC should have employed an experienced broker to facilitate to assist in the process of the rights issue. They seem to be having serious challenges in the way they are managing the process. No clear timetable, no info on when people are supposed to pay for the shares and no info on share price, just under a month before the whole exercise is concluded.

Today I received share certificate, looks they have appointed Coop bank as their share registrar.
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Ericsson
#64 Posted : Saturday, October 30, 2010 11:20:33 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,815
Location: NAIROBI
For those who are unable to participate in the rights issue wait for the IPO.That will be another opportunity to make money
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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TUPAC
#65 Posted : Saturday, October 30, 2010 1:12:48 PM
Rank: Member

Joined: 12/8/2009
Posts: 274
Location: Ltktk
now that they are doubling the number of shares wont the price of the share over the counter go down?
juu sasa kama shares zimekuwa nyingi......
and why did they initially hint on selling to new shareholders and then suddenly changed it into a rights issue?
i think those of us locked out will stil acquire them over the counter. no need to wait till IPO
...things fall apart...the centre cannot hold..mere anarchy is loosed upon the world...w b yeats
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Ericsson
#66 Posted : Saturday, October 30, 2010 1:29:38 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,815
Location: NAIROBI
There are better counters which are going to give u higher returns.
And CIC being in the insurance sector and the way insurance companies in the NSE have a low PE ratio.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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alikujia
#67 Posted : Saturday, October 30, 2010 8:49:37 PM
Rank: Member

Joined: 5/27/2010
Posts: 324
Location: nrb
Yenyewe this CIC thing gets more space here in wazua more than half of the listed firms. But i think people who are not yet in should be more particular about its fundamentals compared to listed peers/industry.

Days when share price will rise automatically/by default just because of listing/ipo are no more.
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alikujia
#68 Posted : Saturday, October 30, 2010 8:53:59 PM
Rank: Member

Joined: 5/27/2010
Posts: 324
Location: nrb
I wish someone could give us some info on unlisted over-the- counter goingons for other rapid-growth industry firms, expected to list in the near future. Other than transcentury, I dont seem to have heard of any.
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VituVingiSana
#69 Posted : Sunday, October 31, 2010 3:43:39 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,366
Location: Nairobi
Seems Kingdom Financial will handle CIC's Rights & Listing...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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PKoli
#70 Posted : Monday, November 01, 2010 10:33:43 AM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
VituVingiSana wrote:
Seems Kingdom Financial will handle CIC's Rights & Listing...


Yeah! Suntra and AAKS have been left out. They have been dealing in CIC OTC shares. Any concrete info on the pricing?
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