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Pan Africa Insurance FY2010 results; Profits Surges 4 folds, raises dividend to 3 bob
erifloss
#11 Posted : Wednesday, March 16, 2011 3:12:57 PM
Rank: Member

Joined: 6/21/2010
Posts: 514
Location: Nairobi
2012 wrote:
23% up!!!

Clearly the tide has turned. This after most Financials going South despite better than expected performances is quite a surprise.

Guys are actually buying this share for the Bonus issue which i think will be the best this year. It's also helping in changing Nse Investors' mindsets on shares to watch. Price went as high as 116 and people were and still are willing to buy.
'They say money cannot buy me happiness but when i compare when i had none and now, i'm happier' Kevin O'leary
mwanahisa
#12 Posted : Wednesday, March 16, 2011 4:17:28 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
The bonus is definitely a good one, but I am skeptical of how much further up the share price can go. At the close of trading, there was quite a bit of supply that was not taken up at 100 although there were matching bids at 95.

Buying a share at a huge markup, immediately following an announcement is always fraught with some risk. This is because you will usually not have had enough time to consider all the salient facts. I normally bid just a little higher than the last traded price and if I do not get my bid filled, I look elsewhere. I am sure that the guy(s) who bought at 110 must have been cursing when s/he (they) saw shares available at 100.

All the same , I would not however be surprised if the share at least stabilized at the 100 level or went up a little more albeit at a slower pace.

Nonetheless, I would like to know whether the reported profits are realized gains or not. I have a small stake in this company and I have known them in the past to report huge profit growth from unrealized gains on stock market investments only to have them marked down in the next reporting period.
Evolve
#13 Posted : Wednesday, March 16, 2011 4:32:40 PM
Rank: Member

Joined: 9/25/2007
Posts: 96
@Mwnahisa, What quantity was sold at Kshs 100? Could this have been a rabbit?
mwanahisa
#14 Posted : Wednesday, March 16, 2011 4:42:59 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
Evolve wrote:
@Mwnahisa, What quantity was sold at Kshs 100? Could this have been a rabbit?


Actually, the traded quantities at 100 were substantial. I do not have the figures but the bulk of the shares traded today were at 100.
Tommy
#15 Posted : Wednesday, March 16, 2011 8:32:55 PM
Rank: Veteran

Joined: 12/9/2010
Posts: 894
Location: Nairobi
and the co has issued 48m shares only.
Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
Tommy
#16 Posted : Wednesday, March 16, 2011 8:34:04 PM
Rank: Veteran

Joined: 12/9/2010
Posts: 894
Location: Nairobi
Tommy wrote:
and the co has issued 48m shares only.

Don't wait for the Last Judgment. It happens every day. ~Albert Camus, The Fall, 1956
Aguytrying
#17 Posted : Wednesday, March 16, 2011 10:14:02 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
What happened to the rule of a share not losing or gaining more that 10% on a day with news affecting it?
The investor's chief problem - and even his worst enemy - is likely to be himself
youcan'tstopusnow
#18 Posted : Wednesday, March 16, 2011 10:59:51 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
Aguytrying wrote:
What happened to the rule of a share not losing or gaining more that 10% on a day with news affecting it?

You've got the rule wrong. It's actually the opposite. That's why BBK lost more than 10 percent today as the books closure was yesterday
GOD BLESS YOUR LIFE
Impunity
#19 Posted : Thursday, March 17, 2011 10:37:08 AM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
When is the do one qualify for a bonus share?
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.

mwanahisa
#20 Posted : Thursday, March 17, 2011 11:13:10 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
Impunity wrote:
When is the do one qualify for a bonus share?


Shares will trade cum-bonus and cum-dividend UNTIL May-17-2011.So you have the next 2 months to qualify for both the dividend and the bonus.
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