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KCB and NBK material announcement
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Ericsson
#81 Posted : Friday, June 07, 2019 5:32:27 PM
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Joined: 12/4/2009
Posts: 10,684
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None of the directors in NBK hold shares in it.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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VituVingiSana
#82 Posted : Friday, June 07, 2019 5:37:40 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,098
Location: Nairobi
Ericsson wrote:
Horton wrote:
Ericsson wrote:
KCB Group CEO Joshua Oigara informed investors that they plan to fire NBK’s board and management team after they acquire the bank. β€œThe board does not intend to keep the management of NBK. The board has no intention of keeping the NBK board,”


πŸ‘πŸ½πŸ‘πŸ½πŸ‘πŸ½πŸ‘πŸ½πŸ‘πŸ½πŸ‘πŸ½


Including Francis Atwoli who is a board member at NBK.
That one might find his way onto KCB's board!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Horton
#83 Posted : Friday, June 07, 2019 6:31:02 PM
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Ericsson wrote:
None of the directors in NBK hold shares in it.



Smart people
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FUNKY
#84 Posted : Wednesday, June 12, 2019 12:28:42 PM
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Ericsson
#85 Posted : Friday, June 14, 2019 7:26:36 PM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Nbk shareholders unanimously approve conversion of preference shares to ordinary shares at the ratio of 1:1
Wealth is built through a relatively simple equation
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obiero
#86 Posted : Friday, June 14, 2019 7:49:07 PM
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Joined: 6/23/2009
Posts: 13,503
Location: nairobi
Ericsson wrote:
Nbk shareholders unanimously approve conversion of preference shares to ordinary shares at the ratio of 1:1

Was there a choice?

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Horton
#87 Posted : Friday, June 14, 2019 10:16:45 PM
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obiero wrote:
Ericsson wrote:
Nbk shareholders unanimously approve conversion of preference shares to ordinary shares at the ratio of 1:1

Was there a choice?


Anyone read the budget? The treasury is going to try to repeal the rate cap again
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watesh
#88 Posted : Saturday, June 15, 2019 12:11:25 AM
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Joined: 8/10/2014
Posts: 969
Location: Kenya
Horton wrote:
obiero wrote:
Ericsson wrote:
Nbk shareholders unanimously approve conversion of preference shares to ordinary shares at the ratio of 1:1

Was there a choice?


Anyone read the budget? The treasury is going to try to repeal the rate cap again

MPs are too stubborn to repeal this. But i like it when this debate dominates the news and they refuse. Banking stocks dip to some incredible discounts.
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Jon Jones
#89 Posted : Saturday, June 15, 2019 1:26:18 AM
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Joined: 9/11/2015
Posts: 244
Location: Thika
What percentage will the government+parastatals own in KCB after the deal??
Since men have learned to shoot without missing, I have learned to fly without perching
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Ericsson
#90 Posted : Saturday, June 15, 2019 7:11:20 AM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Jon Jones wrote:
What percentage will the government+parastatals own in KCB after the deal??

28%
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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obiero
#91 Posted : Saturday, June 15, 2019 8:04:29 AM
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Joined: 6/23/2009
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Location: nairobi
Ericsson wrote:
Jon Jones wrote:
What percentage will the government+parastatals own in KCB after the deal??

28%

If you add KENRE holding in KCB it's more than 28%

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Ericsson
#92 Posted : Saturday, June 15, 2019 8:58:27 AM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
obiero wrote:
Ericsson wrote:
Jon Jones wrote:
What percentage will the government+parastatals own in KCB after the deal??

28%

If you add KENRE holding in KCB it's more than 28%

True
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#93 Posted : Saturday, June 15, 2019 9:00:10 AM
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Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
Post conversion of the preference shares to ordinary shares, KCB is buying NBK at a huge premium
Wealth is built through a relatively simple equation
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obiero
#94 Posted : Sunday, June 16, 2019 3:28:26 PM
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Joined: 6/23/2009
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Ericsson wrote:
Post conversion of the preference shares to ordinary shares, KCB is buying NBK at a huge premium

Care to explain

HF 30,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
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Ericsson
#95 Posted : Sunday, June 16, 2019 7:01:24 PM
Rank: Elder


Joined: 12/4/2009
Posts: 10,684
Location: NAIROBI
obiero wrote:
Ericsson wrote:
Post conversion of the preference shares to ordinary shares, KCB is buying NBK at a huge premium

Care to explain


NBK before conversion of preference shares had a mkt cap of about sh.1.5bn and profit for 2018 was sh.7mn
Post conversion of the preference shares if price remains the same means the mkt cap will be about sh.6.7bn.
The PE will be nearly 1000.
Half of the loan book of NBK is bad debts.
At the current price of KCB of 40(rounded off) and given the number of issued shares to NBK shareholders the value is about ksh.5 9bn and Price to Earnings ratio of nearly 850.
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Ericsson
#96 Posted : Monday, June 17, 2019 4:15:57 PM
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Joined: 12/4/2009
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When are the preference shares been converted to ordinary shares?
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FUNKY
#97 Posted : Tuesday, June 18, 2019 10:31:13 PM
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bartum
#98 Posted : Wednesday, June 19, 2019 10:35:06 AM
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Joined: 8/11/2010
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Location: nairobi
I will get KCB at 35
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xtina
#99 Posted : Wednesday, June 19, 2019 11:12:09 AM
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Joined: 6/26/2008
Posts: 384
bartum wrote:
I will get KCB at 35


i hope so. this job cuts issue will be messy.
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Ericsson
#100 Posted : Wednesday, June 19, 2019 12:07:40 PM
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Joined: 12/4/2009
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bartum wrote:
I will get KCB at 35


Tuko pamoja
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