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Kenya airways Right Issue
Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
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ecstacy wrote:Guys, at current prices and ahead of earnings season, who would you rather gamble on? KQ, Mumias or HomeAfrika? :) Avoid HomeAfrika at all cost, in my own reasoning. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Veteran Joined: 2/3/2012 Posts: 1,317
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Guys, I was wondering how the ban on psv night travel is bound to affect earnings. Anyone with the low down?
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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The ban on night travel has come as a blessing to the airlines operating local flights. Their local traffic has increased and they have also increased their prices for local flights.
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Rank: Elder Joined: 6/2/2011 Posts: 4,824 Location: -1.2107, 36.8831
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Kenya Airways (KQ) and Tanzania’s Precision Air are in talks over a deal that could see the Nairobi-based carrier raise its stake in the latter, by injecting up to $30 million into it.
The move comes after similar discussions between the Tanzanian government and Precision Air, in which the former was expected to inject $30 million into the struggling company, flopped.
Precision chairman Michael Shirima told The EastAfrican that his airline had approached KQ, which owns 41.23 per cent of the airline, for financing, as the Dar es Salaam-based airline seeks ways to shore up its eroded cash position.
“KQ was waiting for the government’s decision…. when the government gave us its final decision on the matter, KQ came up with the idea to increase its stake, over which we are still in discussion. Our aim is it get between $20 million and $30 million through equity,” said Mr Shirima.
Late last year, Ernst and Young, Precision’s auditors, raised concerns over the viability of the airline in the light of surging debts, saying it must move fast to secure financing if it is to remain afloat. Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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So will KQ have to write-down, if not write-off, the investment in Precision Air? Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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QW25091985 wrote:mwekez@ji wrote:QW25091985 wrote:the index jumped to 3400 . wow !
and quarterly report of the nse shows foreigners were busy buying . aiiigh .
yenyewe.... if you bought your shares during the 3072 lows just keep them And it has jumped with good turnover, over 500M. What the next point if such turnover is maintained? 3500 is gonna be sliced through . if such bullishness is maintained even after book closure for most of this stocks i think they will rally .. but i'd rather wait for book closure to see what next . Lol. i think wanjiku will be caught napping again and will be forced to buy the stocks at a high price Post 212.. QW thought KQ was worth more than KES 14 per share
KQ ABP 4.26
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Rank: Elder Joined: 7/22/2009 Posts: 7,837
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obiero wrote:QW25091985 wrote:mwekez@ji wrote:QW25091985 wrote:the index jumped to 3400 . wow !
and quarterly report of the nse shows foreigners were busy buying . aiiigh .
yenyewe.... if you bought your shares during the 3072 lows just keep them And it has jumped with good turnover, over 500M. What the next point if such turnover is maintained? 3500 is gonna be sliced through . if such bullishness is maintained even after book closure for most of this stocks i think they will rally .. but i'd rather wait for book closure to see what next . Lol. i think wanjiku will be caught napping again and will be forced to buy the stocks at a high price Post 212.. QW thought KQ was worth more than KES 14 per share 1) I didn't see anywhere he mentioned KQ. 2) Do you know how much @QW's opinion is/was worth in Wazua? Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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VituVingiSana wrote:http://www.standardmedia.co.ke/education/InsidePage.php?id=2000056183&cid=4&
Efforts by a businessman to stop the ongoing Kenya Airways rights issue has flopped.
The High Court on Friday declined to suspend the rights issue of 1,477,169 shares after certifying the case urgent and ordered Mr Rakesh Gadani to serve KQ with the suit papers.
Justice Fred Ochieng said he should serve the airline and the case heard inter partes on April 17. Rakesh wanted the airline directors temporarily stopped from offering the shares at Sh14 or listing them at the Nairobi Stock Exchange, pending hearing and determination of his case.
The case was filed on grounds that existing shareholders who cannot exercise their rights offer in full could lose 66 percent of the value of the shares.
"In essence, one is being forced to give up Sh28 per share (two third of the value)," he stated. KQ intends to raise Sh20.68 billion by way of the rights issue of new ordinary shares.
He stated the Rights Issue offer price represents a discount of 32.2 percent to the volume weighed average price of KQ ordinary shares on the NSE for the past 90 trading days up to February 29, being the date the board approved the rights issue terms.
"Current shareholders have not had the chance to question the board of directors to explain the logic behind selling shares at Sh14 when the net asset value is Sh42, which is 66 percent," he added.
On Friday, his lawyer, Mr Stephen Gitonga told the court the issuance of shares is oppressive to his client and minority shareholders, adding that KQ issued the Information Memorandum which is the basis of the trading of the rights share issue after the rights started trading. Mr Rakesh had a point.. We chose not to listen, but he was sayin something genuine
KQ ABP 4.26
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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MaichBlack wrote:obiero wrote:QW25091985 wrote:mwekez@ji wrote:QW25091985 wrote:the index jumped to 3400 . wow !
and quarterly report of the nse shows foreigners were busy buying . aiiigh .
yenyewe.... if you bought your shares during the 3072 lows just keep them And it has jumped with good turnover, over 500M. What the next point if such turnover is maintained? 3500 is gonna be sliced through . if such bullishness is maintained even after book closure for most of this stocks i think they will rally .. but i'd rather wait for book closure to see what next . Lol. i think wanjiku will be caught napping again and will be forced to buy the stocks at a high price Post 212.. QW thought KQ was worth more than KES 14 per share 1) I didn't see anywhere he mentioned KQ. 2) Do you know how much @QW's opinion is/was worth in Wazua? Dear Elder I joined stockskenya prior to you.. Check the dates. Which actually was my second entry having forgotten my initial password in early 2008
KQ ABP 4.26
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