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KenGen’s Kes 141 Billion Rights Offer to Quadruple Shares in Issue
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Othelo
#141 Posted : Friday, February 20, 2015 11:41:24 AM
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Joined: 1/20/2014
Posts: 3,528
15B will be snapped up very easily, watch this space!!!!
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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Aguytrying
#142 Posted : Friday, February 20, 2015 11:54:05 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Ericsson wrote:
@Aguytrying
You will be shocked;KENGEN will raise the 50bn they require.
During the PIBO offer they raised 25bn;it's rights issue raised 26.8bn against the targeted amount of 7.8bn.
With gava taking the bulk or 35bn and KENGEN requiring 15bn from the public it will be a success


Lets say they raise the 15bn. my problem is what comes after than. dilution, return on equity, share price hammered. Shareholder loses out long run
The investor's chief problem - and even his worst enemy - is likely to be himself
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Aguytrying
#143 Posted : Friday, February 20, 2015 11:56:19 AM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
Ericsson wrote:
The 50bn KENGEN requires to do a balance on the debt to equity ratio.
They want to take more loans from development institutions like JICA and European Investment Bank for the geothermal power projects.
It's the reason the money is needed in one-go.
Raising in smaller amounts has it's challenges.Let them do the rights issue we get cheaper power.
@Aguytrying
Kenya watu wako na pesa we ndio huna


ha ha. Yenyewe mi sina hio doo. I'll watch from the sidelines like i watched KQ
The investor's chief problem - and even his worst enemy - is likely to be himself
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mthaka
#144 Posted : Friday, February 20, 2015 12:08:48 PM
Rank: Member

Joined: 9/30/2013
Posts: 254
have they wired the dividend?
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VituVingiSana
#145 Posted : Friday, February 20, 2015 12:16:26 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,353
Location: Nairobi
Ericsson wrote:
@Aguytrying
You will be shocked;KENGEN will raise the 50bn they require.
During the PIBO offer they raised 25bn;it's rights issue raised 26.8bn against the targeted amount of 7.8bn.
With gava taking the bulk or 35bn and KENGEN requiring 15bn from the public it will be a success

The PIBO offered an attractive Tax-Free coupon. Which is this 26.8bn Rights Issue you are talking of?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Ericsson
#146 Posted : Friday, February 20, 2015 12:19:29 PM
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Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
KENGEN initial public offer in 2006 not rights issue
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#147 Posted : Friday, February 20, 2015 12:21:07 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
@Aguytrying
After the rights issue the share price will be in the ranges 7 to 8 then start rising as profits start growing from additional revenue from the new power plants.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#148 Posted : Friday, February 20, 2015 12:32:36 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,353
Location: Nairobi
Aguytrying wrote:
Ericsson wrote:
The 50bn KENGEN requires to do a balance on the debt to equity ratio.
They want to take more loans from development institutions like JICA and European Investment Bank for the geothermal power projects.
It's the reason the money is needed in one-go.
Raising in smaller amounts has it's challenges.Let them do the rights issue we get cheaper power.
@Aguytrying
Kenya watu wako na pesa we ndio huna


ha ha. Yenyewe mi sina hio doo. I'll watch from the sidelines like i watched KQ

Hallelujah! And then buy them at a discount to the Rights Price in 2017...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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kawi254
#149 Posted : Friday, February 20, 2015 2:00:45 PM
Rank: Member

Joined: 2/20/2015
Posts: 468
Location: Nairobi
The 2013 AGM only approved a rights issue of 2.2 billion shares and as such a 3 for every 1 share rights issue cannot happen - barring another AGM. There is a lot of misinformation on this that is not helped by KenGen's silence on this.
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VituVingiSana
#150 Posted : Friday, February 20, 2015 3:17:32 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,353
Location: Nairobi
kawi254 wrote:
The 2013 AGM only approved a rights issue of 2.2 billion shares and as such a 3 for every 1 share rights issue cannot happen - barring another AGM. There is a lot of misinformation on this that is not helped by KenGen's silence on this.


Excellent point. Then 1:1 since KenGen has 2.2bn issued shares. At current prices, assuming a discount of 20%, the max KenGen can raise is 20bn which falls substantially short of the 50bn bandied around on Wazua.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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