Seems like some institution is mopping KCB up with a view to taking up its issue rights.

CMA gave approval for the rights issue on the 3rd June 2010.
Books close on the 14th June 2010.

Mzee Obioro,

From the info I got, Q1 result of KCB was dismal compared to EB etc. I think it is a buy for a very long term (3 years up) otherwise short term investors should sale off and buy back post rights if the counter is still attractive to them.

See below :-


April 29 (Reuters) - Kenya Commercial Bank's (KCB.NR) pretax profit rose to 1.9 billion shillings ($24.5 million) in the first quarter of 2010 from 1.73 billion in the same period the previous year, the bank said on Thursday.

If KCB plans to raise 15B from sale of 887M shares, then simple maths points at a price of 17Bob per share not 13Bob.

If KCB plans to raise 15B from sale of 887M shares, then simple maths points at a price of 17Bob per share not 13Bob.[/quote]


@Mwenza, KCB planned to issue 1.1B shares to raise 15B, CMA however only approved issue of 887M shares, obviously protecting the investors from the dilution. This is a good one CMA
I wonder how these business journalists are not getting this point. Let's wait for Tuesday for the price announcement but I think 13.6 looks feasible.