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CSH and CFCIH de-merged proforma financials
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sparkly
#1 Posted : Friday, August 06, 2010 12:00:21 AM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
CFC has a book value of 71. Based on 2009 accounts, new CSH (bank) will have a book value of 64 while CFCIH will have a book value of 6. Liberty paid 6.80 per share of CFCIH totaling to appx 800m. Part of the 800 to be used to pay off debts, the rest to be invested in govt securities but later to be used to grow the business.
Life is short. Live passionately.
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PKoli
#2 Posted : Friday, August 06, 2010 9:56:30 AM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
@sparkly

Based on the book value info what should be the fair value of CFC? If you compare it with its peers like DTB?
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VituVingiSana
#3 Posted : Friday, August 06, 2010 11:23:04 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
Careful... CFC's book value already has a premium coz of goodwill paid for Stanbic's acquisition...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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PKoli
#4 Posted : Friday, August 06, 2010 11:53:30 AM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
@VVS

What was the premium goodwill paid by stanbic?
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VituVingiSana
#5 Posted : Friday, August 06, 2010 12:13:27 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,349
Location: Nairobi
PKoli wrote:
@VVS
What was the premium goodwill paid by stanbic?
I need to check out the Annual Report which I do not have on hand... Remind me later on...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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PKoli
#6 Posted : Friday, August 06, 2010 12:20:05 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
Thanks VVS

I surely will. Me thinks demerger will bring more value. I see the bank trading at over 100 and the insurance above 20.
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the deal
#7 Posted : Friday, August 06, 2010 1:37:11 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
http://www.sharenet.co.z...news_disp.php?id=471028
Cfc Stanbic Bank(bank only) 58% Jump in profits...
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PKoli
#8 Posted : Friday, August 06, 2010 1:47:10 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
the deal wrote:
http://www.sharenet.co.za/v3/news_disp.php?id=471028
Cfc Stanbic Bank(bank only) 58% Jump in profits...


Good results. Let us wait for the stock to hit 100
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youcan'tstopusnow
#9 Posted : Friday, August 06, 2010 2:06:25 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
It only has 19 branches?
GOD BLESS YOUR LIFE
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PKoli
#10 Posted : Friday, August 06, 2010 6:04:50 PM
Rank: Elder

Joined: 2/10/2007
Posts: 1,587
VituVingiSana wrote:
PKoli wrote:
@VVS
What was the premium goodwill paid by stanbic?
I need to check out the Annual Report which I do not have on hand... Remind me later on...


Just incase you forget, I remind you about book value for CFC. You were to look at the 2009 Annual accounts. I will appreciate
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