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Co-op Bank Upcoming Rights Issue
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Ericsson
#1 Posted : Tuesday, May 03, 2011 11:19:11 AM
Rank: Elder

Joined: 12/4/2009
Posts: 10,811
Location: NAIROBI
Co-op bank is planning to do a rights issue to raise additional capital and to boost the statutory ratios.
According to the notice of the upcoming AGM they plan to increase the share capital from Ksh.3.7 billion made up of 3.7 billion shares to ksh.5 billion made up of 5billion shares through the creation of an additional 1.3 billion shares to rank pari passu with the existing shares
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Burning Spear
#2 Posted : Tuesday, May 03, 2011 11:30:54 AM
Rank: Veteran

Joined: 7/22/2008
Posts: 1,139
Ericsson wrote:
Co-op bank is planning to do a rights issue to raise additional capital and to boost the statutory ratios.
According to the notice of the upcoming AGM they plan to increase the share capital from Ksh.3.7 billion made up of 3.7 billion shares to ksh.5 billion made up of 5billion shares through the creation of an additional 1.3 billion shares to rank pari passu with the existing shares


is this good or bad to us the investers
"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
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Burning Spear
#3 Posted : Tuesday, May 03, 2011 11:32:28 AM
Rank: Veteran

Joined: 7/22/2008
Posts: 1,139
Burning Spear wrote:
Ericsson wrote:
Co-op bank is planning to do a rights issue to raise additional capital and to boost the statutory ratios.
According to the notice of the upcoming AGM they plan to increase the share capital from Ksh.3.7 billion made up of 3.7 billion shares to ksh.5 billion made up of 5billion shares through the creation of an additional 1.3 billion shares to rank pari passu with the existing shares


is this good or bad to us the investers


I meant in terms of share appreciation !
"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it". Malcolm X
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Cde Monomotapa
#4 Posted : Tuesday, May 03, 2011 11:38:14 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
KCB...the visionary bank. We lead, others follow. Happy catch up...
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Impunity
#5 Posted : Tuesday, May 03, 2011 11:43:23 AM
Rank: Elder

Joined: 3/2/2009
Posts: 26,331
Location: Masada
This is bad for the current shareholders in the short to medium run,DILUTION.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Fyatu
#6 Posted : Tuesday, May 03, 2011 11:46:55 AM
Rank: Veteran

Joined: 1/20/2011
Posts: 1,820
Location: Nakuru
Impunity wrote:
This is bad for the current shareholders in the short to medium run,DILUTION.


What about in the long-term??? Please break-it-down...
Dumb money becomes dumb only when it listens to smart money
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the deal
#7 Posted : Tuesday, May 03, 2011 11:54:35 AM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
I like it an opportunity to pick cheap Coop shares.
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Muthawamunene
#8 Posted : Tuesday, May 03, 2011 12:04:14 PM
Rank: Member

Joined: 1/3/2011
Posts: 264
Location: Nairobi
They say the annual report is available for download on the company site but i havnt seen zilch!

i want to know what exactly they plan to do with the money, if growth prospects match the impending dillution then we may consider it.

they better not give 'regional expansion' as reason without the details.
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bird_man
#9 Posted : Tuesday, May 03, 2011 12:20:03 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
Somebody please explain to me.....why is it that so many companies want to list/do rights issue this year & next year as opposed to a more certain 2013?

Coop now,CIC,British America,UAP etc
Formally employed people often live their employers' dream & forget about their own.
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the deal
#10 Posted : Tuesday, May 03, 2011 12:35:30 PM
Rank: Elder

Joined: 9/25/2009
Posts: 4,534
Location: Windhoek/Nairobbery
Haha I see a YBC comeback with a big headline "Coop at 8 bob"
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