Sasha wrote:@Bugatti: CIC has a share capital of Kshs 600 million. The total issued is about Kshs 430 million. They issued the outstanding shares to Coop Bank to top up their share capital to Kshs 600 million. As it stands, CIC still have shares worth Kshs 40 million which have not been issued. Like e-kijana says, this deal was concluded more than 4 months ago and they just completed the documentation a few days ago.
@PKoli: I already had this info when I was buying and I'm still buying but only at a reasonable price. I know I will make money OTC but I don't want to hold it too long. I understand spanners are being thrown in the works, and the listing may take even longer. Lets hope the guys from Coop Bank joining the Board will help speed up the listing.
The books are closing tomorrow so unless you can engineer a buy before close of business tomorrow, too bad!
@Sasha & Bugatti,
I think it is a wise decision to continue buying the shares since they will unclock their values soon. I am sure to achieve this they will be forced to list and me thinks this may come soner than later. The same way Sacco societies forced Coop bank to list, they and now the big brother Coop bank will force CiC to list.
CIC has received a lot of coverage and visibility and this will make their OTC shares to trade much more than before.
I think as the Company gets serious shareholders, there will be better corporate governance in CIC. If there are any guys throwing spanners, I feel they will not succeed.