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KCB Rights Issue Subscription Rate
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mwanahisa
#11 Posted : Tuesday, August 10, 2010 12:06:56 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
Hi, I guess you can call me one of the suckers. I applied for quite a heap of additional shares and with this kind of uptake I am eyeing no less than Kshs 23 by February next year. I will be happy with approximately 35% return on my capital for slightly over 6 months. I cannot honestly see how KCB will continue trading at a forward PE of 8-9 when the likes of Barclays are trading at one of 15.
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yekeyeke
#12 Posted : Tuesday, August 10, 2010 12:09:21 PM
Rank: Member

Joined: 6/4/2008
Posts: 345
Obiero. Send us the link
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qw25041985
#13 Posted : Tuesday, August 10, 2010 12:10:03 PM
Rank: User

Joined: 5/9/2010
Posts: 1,418
Location: Nai
It seems my logic worked . Lol . Thats nt a bad rate. @ vvs . Ar u still waiting for a 50 - 60 % subscription rate ? Too much pessimism is harmful to your portfolio. Ehehe
Your future depends on your dreams so go to sleep !
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Wa_ithaka
#14 Posted : Tuesday, August 10, 2010 12:11:08 PM
Rank: Veteran

Joined: 1/7/2010
Posts: 1,279
Location: nbi
Mwanahisa-good point on comparison with BBK. Lakini those volumes are huge...
The Governor of Nyeri - 2017
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PKoli
#15 Posted : Tuesday, August 10, 2010 12:17:38 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
mwanahisa wrote:
Hi, I guess you can call me one of the suckers. I applied for quite a heap of additional shares and with this kind of uptake I am eyeing no less than Kshs 23 by February next year. I will be happy with approximately 35% return on my capital for slightly over 6 months. I cannot honestly see how KCB will continue trading at a forward PE of 8-9 when the likes of Barclays are trading at one of 15.


I quite agree with you. KCB will easily return to trade in the mid to upper 20s.
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mwanahisa
#16 Posted : Tuesday, August 10, 2010 12:20:17 PM
Rank: Elder

Joined: 6/2/2008
Posts: 1,438
@YekeYeke, It's indeed official. This has been posted to NSE subscribers. Total Value of Rights under entitlement + Kshs 10.83 B, while Total Value of applications for additional shares was Kshs 1.6 Billion.

Wa_Ithaka, the volumes may look huge but in the case of KCB, you can be sure quite a lot of the uptake must have come from Institutions. Retailers were not particularly keen on the issue. I therefore do NOT expect too much selling in the initial phase at a price approaching the rights price. I would demand a premium and I am willing to wait. Remember Co-op at 9.50!
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Evolve
#17 Posted : Tuesday, August 10, 2010 12:27:03 PM
Rank: Member

Joined: 9/25/2007
Posts: 96
For the shares to appreciate, demand for them must be created. My take is that any investor who wanted to position himself is already in there except for those who might have kept off due to referendum fears. Long haul investors keep on holding.
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PKoli
#18 Posted : Tuesday, August 10, 2010 12:41:45 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
mwanahisa wrote:
@YekeYeke, It's indeed official. This has been posted to NSE subscribers. Total Value of Rights under entitlement + Kshs 10.83 B, while Total Value of applications for additional shares was Kshs 1.6 Billion.

Wa_Ithaka, the volumes may look huge but in the case of KCB, you can be sure quite a lot of the uptake must have come from Institutions. Retailers were not particularly keen on the issue. I therefore do NOT expect too much selling in the initial phase at a price approaching the rights price. I would demand a premium and I am willing to wait. Remember Co-op at 9.50!


Moreover the government did not take its stake, which was significant. I do not expect alot of sellers as too. KCB is one of the few securities that have declined when the market has been bullish. Most people are waiting for the shares on 19th
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the deal
#19 Posted : Tuesday, August 10, 2010 12:46:18 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Share price is now down to 18.10 bob...when are they uploading the new shares...i wanna get my cheaque book ready...
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qw25041985
#20 Posted : Tuesday, August 10, 2010 12:55:22 PM
Rank: User

Joined: 5/9/2010
Posts: 1,418
Location: Nai
The share pricd is goin down b'coz there's a correction on the price . Period.
Your future depends on your dreams so go to sleep !
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