@ 2012, this is painfully true, why not let the shareholders have them?. Kinyua alikuwa na mpango with some big boys to make millions coz you can tell he could have made more than 80 m. He should be forced to resign with all the other guys involved: NSE and CMA in this plot . They timed when Ocampo was naming suspects but they can't fool Wazuans. Some guys have made millions today! Thats why the gap btn the rich and the poor will keep widening. They also make small investor loose confidence in anything govt wants to privatise. Lesson no. 1 learned : Small investors can never make money from gok coz of endemic corruption.

Window dressing by Treasury. For 2 weeks they didn't bother to bring their rights to the market, despite over advertising. On the last date they rush the rights and barely sell half, at throw away prices. No threat to proceeds expected by kplc since 50% is under written. Looks like the govt just wanted to convert its pref shares with a minimal shake-up in the current share holding, at the expense of returning the best return to the taxpayer. No problem, except that it gave insiders and crooks an opportunity to make a killing. @vvs i agree with you that the govt should just have renounced their rights in favor of the minority, then they would have been valued objectively by the market.

looks like this scenerio played out yesterday. so now more than 150M government rights lapsed and are up for grabs as extra rights.

thanks to the end of the open game. now e have to play an in-house one for the existing shareholders. forget about yesterday's drama when the GOK had to have extra time when indeed nothing was done in the 90 mins fair play.
i am applying for the maximum possible extra allocation until the allocators will be wondering who this small shareholder thinks he is.

@ngapat i think what matters most is the ratio after the rights issue..

After the rights issue there will be a total of 1.734 billion shares against net profit of 3.716

This gives an earnings per share of 2.15..


Hence a trailing P/E of 10.6..
This while the sector P/E is at 15.5
And the market P/E at 16

This is one of the reasons it is undervalued..