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BRITAK PROSPECTUS
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the deal
#41 Posted : Tuesday, July 12, 2011 5:52:49 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
The link on the website is not working for those who want the report BRitak compared to its peers in PDF reach me here admin@contrarianinvestingkenya.info
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holycow
#42 Posted : Tuesday, July 12, 2011 7:16:50 PM
Rank: Veteran

Joined: 11/11/2006
Posts: 972
Location: Home
the deal wrote:
The link on the website is not working for those who want the report BRitak compared to its peers in PDF reach me here admin@contrarianinvestingkenya.info



There is another link which works
http://www.british-american.co....uit/IPO%20Prospectus.pdf
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Aguytrying
#43 Posted : Tuesday, July 12, 2011 8:42:40 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Dear oh dear. Just went through the prospectus, a very detailed 220 page account of the company. Well structured and thoughtfully laid out. Now for the bad news as some have said. Net profit forecast for dec 2011, 1 billion. 2010 2.7 billion. Profit after tax for the four months ended april 2011 460 million, april 2010 1.36 million. Drop attributed to fair value of investment income, due to n.s.e. Another eye opener was forecast eps for dec 2011, 0.48. Forecast pe dec 2011, 13. All in all, this is one for longterm investors. Long term things look pretty good, as for the ipo.....
The investor's chief problem - and even his worst enemy - is likely to be himself
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Aguytrying
#44 Posted : Tuesday, July 12, 2011 8:45:36 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent?
The investor's chief problem - and even his worst enemy - is likely to be himself
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the deal
#45 Posted : Tuesday, July 12, 2011 9:05:53 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Aguytrying wrote:
@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent?

Lol thats what I saw...in that case a profit warning will be in orderLaughing out loudly Laughing out loudly
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Layman
#46 Posted : Wednesday, July 13, 2011 7:27:09 AM
Rank: Member

Joined: 9/21/2006
Posts: 422
Location: Nairobi
Aguytrying wrote:
@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent?


Its still 11 point something %, i.e British American Insurance owns 6 point something percent while British american investments comapny owns 4point something percent. These totals to 11 point something percent. You know British American Insurance is owned by British American Investments Company?
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mwanahisa
#47 Posted : Wednesday, July 13, 2011 10:02:48 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
Aguytrying wrote:
@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent?


This is certainly good for Equity Bank. At least we know that one of their top shareholders is not bailing out. I however think it is negative for BA. Their fortunes remain too closely tied to the EB share price.
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mwanahisa
#48 Posted : Wednesday, July 13, 2011 10:04:55 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
BTW @the deal. The 6.6% you quoted, was that what you (mis)read or what they briefed you? Just in case they have sold out after the publication of the prospectus!

the deal wrote:
Aguytrying wrote:
@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent?

Lol thats what I saw...in that case a profit warning will be in orderLaughing out loudly Laughing out loudly

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the deal
#49 Posted : Wednesday, July 13, 2011 10:34:31 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
mwanahisa wrote:
BTW @the deal. The 6.6% you quoted, was that what you (mis)read or what they briefed you? Just in case they have sold out after the publication of the prospectus!

the deal wrote:
Aguytrying wrote:
@deal. According to the prospectus, As at 29th june, the held 11 percent stake in equity. When did you say they reduced to 6 percent?

Lol thats what I saw...in that case a profit warning will be in orderLaughing out loudly Laughing out loudly


No big deal that day they presented their stake in EQTY as 6% but they didnt specify weather it was for Britak insurance or Britak the holding company plus the prospectus wasnt done that time so I will go with the prospectus.
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mwanahisa
#50 Posted : Wednesday, July 13, 2011 10:52:47 AM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
the deal wrote:
No big deal that day they presented their stake in EQTY as 6% but they didnt specify weather it was for Britak insurance or Britak the holding company plus the prospectus wasnt done that time so I will go with the prospectus.


Awwwright!
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