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NBK- a junk stock?
Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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Angelica _ann wrote:drogon wrote:Q3 results PDF https://nationalbank.co.ke/wp-content/uploads/2018/11/National-Bank-Financials.pdfNational Bank of Kenya's NBK after-tax earnings in the first nine months of trading ended September 2018 dropped by 84 per cent to Sh21.97 million owing to reduced lending. The decline, from the previous year’s Sh138 million, was mainly driven by reduced interest and non-interest income. While interest income shrunk by 10.5 per cent to Sh6.32 billion, non-interest income dropped by 16.3 per cent to Sh1.51 billion. Loans and advances to customers dropped by Sh9.9 billion or 17 per cent to Sh48 billion when compared to last year’s nine month position of Sh57.88 billion. This knocked down its interest income from loans and advances by 18 per cent to Sh3.09 billion. With all those resources, they could only manage 21m, yaani 21 million. Bure kabisa. Seems like a falsified profit to me
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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Farewell to thee.. Last NBK trading day at the NSE, 30.08.2019 
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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Wazua experts. Explain what happens to the converted preference shares
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares  Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Veteran Joined: 6/17/2009 Posts: 1,616
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The last reporting as a listed entity ?.....half year PBT @ 175m
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! Life is short. Live passionately.
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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sparkly wrote:Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! What of the payout. Simba appears clear in the forward it is only paying for 338m shares . Section e) states that the buyout is exclusive of the preference. This implies that whatever gets paid for the acceptances shall be drowned in the absorption of the preference into ordinary. Un unholy dilution. The two men have finished us
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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obiero wrote:sparkly wrote:Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! What of the payout. Simba appears clear in the forward it is only paying for 338m shares . Section e) states that the buyout is exclusive of the preference. This implies that whatever gets paid for the acceptances shall be drowned in the absorption of the preference into ordinary. Un unholy dilution. The two men have finished us Exchange of NBK shares by being given KCB shares will be done based on the shareholding structure post conversion of preference shares to ordinary. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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Ericsson wrote:obiero wrote:sparkly wrote:Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! What of the payout. Simba appears clear in the forward it is only paying for 338m shares . Section e) states that the buyout is exclusive of the preference. This implies that whatever gets paid for the acceptances shall be drowned in the absorption of the preference into ordinary. Un unholy dilution. The two men have finished us Exchange of NBK shares by being given KCB shares will be done based on the shareholding structure post conversion of preference shares to ordinary. A crafty deal..
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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obiero wrote:Ericsson wrote:obiero wrote:sparkly wrote:Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! What of the payout. Simba appears clear in the forward it is only paying for 338m shares . Section e) states that the buyout is exclusive of the preference. This implies that whatever gets paid for the acceptances shall be drowned in the absorption of the preference into ordinary. Un unholy dilution. The two men have finished us Exchange of NBK shares by being given KCB shares will be done based on the shareholding structure post conversion of preference shares to ordinary. A crafty deal.. The conversion of preference to ordinary shares. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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Ericsson wrote:obiero wrote:Ericsson wrote:obiero wrote:sparkly wrote:Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! What of the payout. Simba appears clear in the forward it is only paying for 338m shares . Section e) states that the buyout is exclusive of the preference. This implies that whatever gets paid for the acceptances shall be drowned in the absorption of the preference into ordinary. Un unholy dilution. The two men have finished us Exchange of NBK shares by being given KCB shares will be done based on the shareholding structure post conversion of preference shares to ordinary. A crafty deal.. The conversion of preference to ordinary shares. No. The fact that buyout sum will be based on less shares prior to the conversion. The minority guys shall find themselves with very little shares at the other end.. But better half a loaf, they say
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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What will be the cost to KCB for; -Recapitalising NBK so that it complies with Statutory ratios -Shutting down some branches -Retrenchment of staff who won't be needed. -Integrating NBK into KCB systems -Writing off bad debt that can't be recovered. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 12/4/2009 Posts: 10,636 Location: NAIROBI
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obiero wrote:Ericsson wrote:obiero wrote:Ericsson wrote:obiero wrote:sparkly wrote:Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! What of the payout. Simba appears clear in the forward it is only paying for 338m shares . Section e) states that the buyout is exclusive of the preference. This implies that whatever gets paid for the acceptances shall be drowned in the absorption of the preference into ordinary. Un unholy dilution. The two men have finished us Exchange of NBK shares by being given KCB shares will be done based on the shareholding structure post conversion of preference shares to ordinary. A crafty deal.. The conversion of preference to ordinary shares. No. The fact that buyout sum will be based on less shares prior to the conversion. The minority guys shall find themselves with very little shares at the other end.. But better half a loaf, they say Today was the last day of trading. From Monday NSE will be trading less one counter while IPO drought continues. Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 6/23/2009 Posts: 13,472 Location: nairobi
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Ericsson wrote:obiero wrote:Ericsson wrote:obiero wrote:Ericsson wrote:obiero wrote:sparkly wrote:Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! What of the payout. Simba appears clear in the forward it is only paying for 338m shares . Section e) states that the buyout is exclusive of the preference. This implies that whatever gets paid for the acceptances shall be drowned in the absorption of the preference into ordinary. Un unholy dilution. The two men have finished us Exchange of NBK shares by being given KCB shares will be done based on the shareholding structure post conversion of preference shares to ordinary. A crafty deal.. The conversion of preference to ordinary shares. No. The fact that buyout sum will be based on less shares prior to the conversion. The minority guys shall find themselves with very little shares at the other end.. But better half a loaf, they say Today was the last day of trading. From Monday NSE will be trading less one counter while IPO drought continues. Very few investable counters remain.. BAT, COOP, DTB, EQTY, JUB, KCB, KEGN, KNRE, KQ, TOTAL, SCOM
HF 428,000 ABP 3.49; KQ 414,100 ABP 7.92; MTN 15,750 ABP 6.45
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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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obiero wrote:Ericsson wrote:obiero wrote:Ericsson wrote:obiero wrote:Ericsson wrote:obiero wrote:sparkly wrote:Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! What of the payout. Simba appears clear in the forward it is only paying for 338m shares . Section e) states that the buyout is exclusive of the preference. This implies that whatever gets paid for the acceptances shall be drowned in the absorption of the preference into ordinary. Un unholy dilution. The two men have finished us Exchange of NBK shares by being given KCB shares will be done based on the shareholding structure post conversion of preference shares to ordinary. A crafty deal.. The conversion of preference to ordinary shares. No. The fact that buyout sum will be based on less shares prior to the conversion. The minority guys shall find themselves with very little shares at the other end.. But better half a loaf, they say Today was the last day of trading. From Monday NSE will be trading less one counter while IPO drought continues. Very few investable counters remain.. BAT, COOP, DTB, EQTY, JUB, KCB, KEGN, KNRE, KQ, TOTAL, SCOM Stanchart & EABL!!! In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Chief Joined: 1/3/2007 Posts: 18,050 Location: Nairobi
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obiero wrote:Ericsson wrote:obiero wrote:Ericsson wrote:obiero wrote:Ericsson wrote:obiero wrote:sparkly wrote:Ericsson wrote:obiero wrote:Wazua experts. Explain what happens to the converted preference shares The converted preference shares will be added to the current ordinary shares. The shareholding of government will rise from 22.5% to 66.9% and for NSSF will drop from 48.5% to 26.99% Other shareholders stake will also be diluted. This will give a total issued shares for NBK at 1.473bn shares. This number of shares is what is going to be used in the ratio of 1:10 that KCB will issue to NBK shareholders in exchange of KCB taking over NBK. Illustrated on the table below; New shares for NSSF and GoK are the preference shares Very well explained! What of the payout. Simba appears clear in the forward it is only paying for 338m shares . Section e) states that the buyout is exclusive of the preference. This implies that whatever gets paid for the acceptances shall be drowned in the absorption of the preference into ordinary. Un unholy dilution. The two men have finished us Exchange of NBK shares by being given KCB shares will be done based on the shareholding structure post conversion of preference shares to ordinary. A crafty deal.. The conversion of preference to ordinary shares. No. The fact that buyout sum will be based on less shares prior to the conversion. The minority guys shall find themselves with very little shares at the other end.. But better half a loaf, they say Today was the last day of trading. From Monday NSE will be trading less one counter while IPO drought continues. Very few investable counters remain.. BAT, COOP, DTB, EQTY, JUB, KCB, KEGN, KNRE, KQ, TOTAL, SCOM  Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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