hisah wrote:kazee wrote:hisah wrote:SittingPretty wrote:Someone tell me, while BTAK and CFCI seem to be weathering the Petition storm, CIC does not seem to be replicating! Is there something I dont know????
CIC has rallied from 3.05 to 5.60. That's almost 100% in 4 months. It has rallied the most of all the insurance stocks after pan african, which is being acquired. Are the south Africans still buying panAfrica shares from the market? The volumes traded on that counter nowadays are at an all time low.
I'm not sure if Sanlam are done with the buying. Thin volumes could mean that the available float is drying up. The last time i read about this,
link, sanlam had managed to buy only 5.6% from the market and therefore needed 4.4% more to hit their target. This, together with good valuation of the company, should drive the share towards the sib valuation of KES 75