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CFC Insurance - Errors in the info-memo

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mukiha		#1 Posted : Monday, April 04, 2011 11:15:54 AM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		I have just received my info memo for the upcoming listing of CFC Insurance Holdings and have noted the following errors: 1] On page 4, the listing date is given as 1 April 2011; yet under "Definitions' (page 11), the listing date is defined as "21 April 2011 at 10.00am". 2] On page 18, section 7.4.1, it states that Mr J G Kiereini holds 5,268,303 shares in the company representing a nominal value of Sh32,436,942. However, section 7.2 [page 17] says that "the company has a norminal share capital .... divided into ordinary shares of Sh1.00 each..." How does Mr Kiereini's 5,268,303 shares translate into Sh32,436,94 of norminal value? Has anyone picked up others? Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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mukiha		#2 Posted : Monday, April 04, 2011 4:02:21 PM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		BTW: It is coming to the market at an introductory price of sh6.157 Total shares listing: 515m Total shareholders: 3,712 [yours truly included] NAV: 9.4 [30th June 09] EPS: 0.54 [6mo to 30th June] Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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the deal		#3 Posted : Thursday, April 21, 2011 8:37:20 AM
Rank: Elder Joined: 9/25/2009 Posts: 4,534 Location: Windhoek/Nairobbery		The listing is today...@Mukiha you must be excited? will it debut at 6.15 and head north or will it tank south? only Mr Market knows.
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QW25071985		#4 Posted : Thursday, April 21, 2011 8:46:39 AM
Rank: Veteran Joined: 3/25/2011 Posts: 946		I dnt expect must excitment about the stock once listed. Mr. Market seems to be down w/ a cold or flu. I dnt know much about insuarance co. but in a proper bull anything goes .even the sinkin ships rise.
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2012		#5 Posted : Thursday, April 21, 2011 9:47:29 AM
Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi		I think how this is received by the market will set the stage on how the British American IPO in June will be received. BBI will solve it :)
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Evolve		#6 Posted : Thursday, April 21, 2011 10:00:51 AM
Rank: Member Joined: 9/25/2007 Posts: 96		The stock is likely to tank if what is currently happening in the market is anything to go by.
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mukiha		#7 Posted : Thursday, April 21, 2011 10:14:03 PM
Rank: Elder Joined: 6/27/2008 Posts: 4,114		the deal wrote: The listing is today...@Mukiha you must be excited? will it debut at 6.15 and head north or will it tank south? only Mr Market knows. Sh17 was totally unexpected! I thought it would open at about 7 and then the market would flood and push it down to 6... But have you seen what happened to CFCSH? I thought people were waiting for the insurance business to be removed before buying into the bank... Adding the two prices takes us back to around sh75 Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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VituVingiSana		#8 Posted : Thursday, April 21, 2011 11:23:26 PM
Rank: Chief Joined: 1/3/2007 Posts: 18,354 Location: Nairobi		I wish I could short it... Greedy when others are fearful. Very fearful when others are greedy - *to paraphrase Warren Buffett*
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Cde Monomotapa		#9 Posted : Friday, April 22, 2011 7:10:08 AM
Rank: Chief Joined: 1/13/2011 Posts: 5,964		"too much..mix up, mix up!"
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sparkly		#10 Posted : Friday, April 22, 2011 9:32:04 AM
Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi		VituVingiSana wrote: I wish I could short it... @vituz my thoughts exactly. It will be trading at the access range soon. Too much premium in the price. Life is short. Live passionately.
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