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NBK First Rights Issue
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mwekez@ji
#1 Posted : Monday, May 13, 2013 11:48:12 PM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
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mwekez@ji
#2 Posted : Tuesday, May 14, 2013 12:07:53 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
Top two shareholders
1. NSSF - 48.05%
2. GOK - 22.50%

Save for the two, no one has more than 0.5% shareholding in NBK, meaning NSSF + GOK will determine the success of this rights issue
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mwekez@ji
#3 Posted : Tuesday, May 14, 2013 12:31:11 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
AGM meeting on Friday, 7th June 2013 will have the rights issue agenda to discuss and approve
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guru267
#4 Posted : Tuesday, May 14, 2013 7:59:28 AM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
mwekez@ji wrote:
Top two shareholders
1. NSSF - 48.05%
2. GOK - 22.50%

Save for the two, no one has more than 0.5% shareholding in NBK, meaning NSSF + GOK will determine the success of this rights issue


In such cases management has already discussed with major shareholders and the rights issue is already approved!
Mark 12:29
Deuteronomy 4:16
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vastcapital
#5 Posted : Tuesday, May 14, 2013 8:10:33 AM
Rank: New-farer

Joined: 10/10/2010
Posts: 51
Location: Nairobi
guru267 wrote:
mwekez@ji wrote:
Top two shareholders
1. NSSF - 48.05%
2. GOK - 22.50%

Save for the two, no one has more than 0.5% shareholding in NBK, meaning NSSF + GOK will determine the success of this rights issue


In such cases management has already discussed with major shareholders and the rights issue is already approved!


In agreement with Guru267. its a done deal. The bank is undergoing a transformation and will be one stock to watch in the next few months, Rebranding,Technology change,Strategic branch expansion and New management style...if you can trail it for the next few years it has a potential to multiply your fortunes!
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mwekez@ji
#6 Posted : Tuesday, May 14, 2013 8:54:32 AM
Rank: Chief

Joined: 5/31/2011
Posts: 5,121
vastcapital wrote:
guru267 wrote:
mwekez@ji wrote:
Top two shareholders
1. NSSF - 48.05%
2. GOK - 22.50%

Save for the two, no one has more than 0.5% shareholding in NBK, meaning NSSF + GOK will determine the success of this rights issue


In such cases management has already discussed with major shareholders and the rights issue is already approved!


In agreement with Guru267. its a done deal. The bank is undergoing a transformation and will be one stock to watch in the next few months, Rebranding,Technology change,Strategic branch expansion and New management style...if you can trail it for the next few years it has a potential to multiply your fortunes!


Government has in recent years sat out rights issues in other firms such as CFC, Mumias, KCB, Kenya Power and Housing Finance, allowing the private sector to increase its stake in what is seen as non-strategic firms. What then informs you that government will participate in this NBK issue
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Aguytrying
#7 Posted : Tuesday, May 14, 2013 9:00:02 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
with gova controlling 70% in total and no one with past 0.5% I doubt it will be hard to get lapsed rights, plus this isn't exactly a hot stock.
I just hope its not a lot of money there are asking for, massive dilution can be off putting
The investor's chief problem - and even his worst enemy - is likely to be himself
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selah
#8 Posted : Tuesday, May 14, 2013 10:55:49 AM
Rank: Elder

Joined: 10/13/2009
Posts: 1,950
Location: in kenya
Aguytrying wrote:
with gova controlling 70% in total and no one with past 0.5% I doubt it will be hard to get lapsed rights, plus this isn't exactly a hot stock.
I just hope its not a lot of money there are asking for, massive dilution can be off putting


When I was in one of their AGMS Marambii was asked about the Govt Preference shares and if the Govt would convert them to ordinary shares....THe Then MD said if the govt was to do that The dilution would make the current Shareholders Cry....in that it would be a massive dilution.

Now I dont know how this Right issue will be structured coz the preference shares always complicate this stock.If you factor in the dilution that will come with this right issue together with preference shares,if the govt continue holding them,Then you have got one complicated and risky stock.
'......to the acknowledgment of the mystery of God, and of the Father, and of Christ; 3 In whom are hid all the treasures of wisdom and knowledge.' Colossians 2:2-3
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hisah
#9 Posted : Tuesday, May 14, 2013 11:29:42 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
@cde - are you still hiding in NBK?
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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VituVingiSana
#10 Posted : Tuesday, May 14, 2013 11:34:14 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,361
Location: Nairobi
KPLC - Conversion of pref shares to ordinary shares diluted 'minority' shareholders... And gave GoK 51% with devastating consequences.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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