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KenGen’s Kes 141 Billion Rights Offer to Quadruple Shares in Issue
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cnn
#41 Posted : Wednesday, January 15, 2014 10:27:22 AM
Rank: Veteran

Joined: 6/17/2009
Posts: 1,627
mkonomtupu wrote:
mkonomtupu wrote:
while everyone is running away i'm back accumulating kengen. Mr. Market can be quite irrational. Kengen will in 2014 increase power generation capacity by a quarter once Olkaria IV is complete. The higher electricity tariffs are now in operation. Kengen will enjoy tax credits from the new power plants in rural areas. The demand for electricity went up 9%.



Dealing with Mr. Market can be quite fun and exciting. If i was to cash out that's already 100k

For one who was in cash,that was quick returns begging to be taken.
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agulamabbas1
#42 Posted : Wednesday, January 15, 2014 2:06:53 PM
Rank: Hello

Joined: 1/13/2014
Posts: 4
KenGen seems to be a good long term play, currently no supply at 13.85, so might seem a good short term play too.

The rights issue will definitely dilute the stock, but I don't think they will price it too cheap, the dilutive effects will be more than offset by the increased earnings that those plants will produce. Seems like a perfect defensive hedge over the long term
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mkonomtupu
#43 Posted : Wednesday, January 15, 2014 4:10:23 PM
Rank: Veteran

Joined: 2/10/2010
Posts: 1,001
Location: River Road
Quote:
NAIROBI (Reuters) - Kenyan power utility KenGen plans to raise 15 billion shillings from its shareholders in a rights issue offer this year, its chief executive said on Wednesday.

The state-controlled firm, which has 1,250 megawatts of generating capacity out of the countrys total of 1,600 MW, will use the funds to develop several new power plants as part of the governments plan to raise installed capacity to 5,000 MW by 2017.

Looking at the very ambitious plan we have for generation in the power sector, we need the money. We need the equity that will also help us raise more debt and maintain our capital structure, Albert Mugo, told his first news conference since his appointment.
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Aguytrying
#44 Posted : Wednesday, January 15, 2014 9:00:33 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
mkonomtupu wrote:
Quote:
NAIROBI (Reuters) - Kenyan power utility KenGen plans to raise 15 billion shillings from its shareholders in a rights issue offer this year, its chief executive said on Wednesday.

The state-controlled firm, which has 1,250 megawatts of generating capacity out of the countrys total of 1,600 MW, will use the funds to develop several new power plants as part of the governments plan to raise installed capacity to 5,000 MW by 2017.

Looking at the very ambitious plan we have for generation in the power sector, we need the money. We need the equity that will also help3 us raise more debt and maintain our capital structure, Albert Mugo, told his first news conference since his appointment.


@mkonotupu. big up, once again.

no wonder the rally. what a juicy rights issue. rights left for market after Gok takes its 80% will be 3 billion shillings worth of shares.

oversubscription. pap. better buy some before the rights announcement if one wants to get a good chunk

The investor's chief problem - and even his worst enemy - is likely to be himself
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sparkly
#45 Posted : Wednesday, January 15, 2014 10:34:52 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
Aguytrying wrote:
mkonomtupu wrote:
Quote:
NAIROBI (Reuters) - Kenyan power utility KenGen plans to raise 15 billion shillings from its shareholders in a rights issue offer this year, its chief executive said on Wednesday.

The state-controlled firm, which has 1,250 megawatts of generating capacity out of the countrys total of 1,600 MW, will use the funds to develop several new power plants as part of the governments plan to raise installed capacity to 5,000 MW by 2017.

Looking at the very ambitious plan we have for generation in the power sector, we need the money. We need the equity that will also help3 us raise more debt and maintain our capital structure, Albert Mugo, told his first news conference since his appointment.


@mkonotupu. big up, once again.

no wonder the rally. what a juicy rights issue. rights left for market after Gok takes its 80% will be 3 billion shillings worth of shares.

oversubscription. pap. better buy some before the rights announcement if one wants to get a good chunk



This is Kengen 2006 all over again. This time the resistance at 17 will be cleared easily.
Life is short. Live passionately.
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the deal
#46 Posted : Thursday, January 16, 2014 11:23:17 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Lets talk at 8 bob.
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Ericsson
#47 Posted : Thursday, January 16, 2014 11:24:38 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
The ball has shifted.
Now the new MD is targeting rights issue by end of the year and not June as had previously been stated.
The timing of the rights issue is dependent on preparations by the government/treasury not forgetting there is still the upcoming NBK rights issue.
As for the shares to be issued I project half of the 2.2 billion shares is what is to be used for the rights issue targeting to raise ksh.15 billion.
For now enjoy the ride;the rights issue might even be held next year.
>T
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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mlennyma
#48 Posted : Thursday, January 16, 2014 11:29:50 AM
Rank: Elder

Joined: 7/21/2010
Posts: 6,194
Location: nairobi
Kengen is not a capital gains share becoz the gvt owns a very big chunk of it which threatens the share growth since nobody knows the next decision on gvts stake...anytime the share gains the gvt will always think of offloading and it will remain so until a strategic investor is identified....hate me or like me.
"Don't let the fear of losing be greater than the excitement of winning."
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mthaka
#49 Posted : Thursday, January 16, 2014 11:36:06 AM
Rank: Member

Joined: 9/30/2013
Posts: 254
wao atleast its by the end of the year,hi kitu haina timeline,the cabinet has not even approved it
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Ericsson
#50 Posted : Thursday, January 16, 2014 11:44:16 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,809
Location: NAIROBI
@mlennyama;
Government has no plan of offloading it to a strategic investor because energy cannot be left in the hands of a privateer.
There is less to lose by selling GDC or KPLC to a strategic investor than KENGEN.
Also alot of the loans it has taken and intends to take from multi-lateral agencies like JICA,European Investment Bank are usually guaranteed by the state/treasury.
So for sale to a strategic investor forget abt that story.
Capital gains is there for those who bought last week at 11.50 and sold this week at 14 that is already more than a 20% gain.
Also it's dividend are much better as compared to the ones of KPLC.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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