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5 Pages«<345
KCB and NBK material announcement
Ericsson
#81 Posted : Friday, June 07, 2019 5:32:27 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,702
Location: NAIROBI
None of the directors in NBK hold shares in it.
VituVingiSana
#82 Posted : Friday, June 07, 2019 5:37:40 PM
Rank: Chief


Joined: 1/3/2007
Posts: 15,895
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
Horton
#83 Posted : Friday, June 07, 2019 6:31:02 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,405
Location: Nairobi
Ericsson wrote:
None of the directors in NBK hold shares in it.



Smart people
FUNKY
#84 Posted : Wednesday, June 12, 2019 12:28:42 PM
Rank: Veteran


Joined: 4/30/2010
Posts: 1,411
Ericsson
#85 Posted : Friday, June 14, 2019 7:26:36 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,702
Location: NAIROBI
Nbk shareholders unanimously approve conversion of preference shares to ordinary shares at the ratio of 1:1
obiero
#86 Posted : Friday, June 14, 2019 7:49:07 PM
Rank: Elder


Joined: 6/23/2009
Posts: 11,664
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?
COOP 5,500; KCB 3,700; KQ 221,100
Horton
#87 Posted : Friday, June 14, 2019 10:16:45 PM
Rank: Veteran


Joined: 8/30/2007
Posts: 1,405
Location: Nairobi
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
watesh
#88 Posted : Saturday, June 15, 2019 12:11:25 AM
Rank: Member


Joined: 8/10/2014
Posts: 708
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.
Jon Jones
#89 Posted : Saturday, June 15, 2019 1:26:18 AM
Rank: New-farer


Joined: 9/11/2015
Posts: 92
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
Ericsson
#90 Posted : Saturday, June 15, 2019 7:11:20 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,702
Location: NAIROBI
Jon Jones wrote:
What percentage will the government+parastatals own in KCB after the deal??

28%
obiero
#91 Posted : Saturday, June 15, 2019 8:04:29 AM
Rank: Elder


Joined: 6/23/2009
Posts: 11,664
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%
COOP 5,500; KCB 3,700; KQ 221,100
Ericsson
#92 Posted : Saturday, June 15, 2019 8:58:27 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,702
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
Ericsson
#93 Posted : Saturday, June 15, 2019 9:00:10 AM
Rank: Elder


Joined: 12/4/2009
Posts: 6,702
Location: NAIROBI
Post conversion of the preference shares to ordinary shares, KCB is buying NBK at a huge premium
obiero
#94 Posted : Sunday, June 16, 2019 3:28:26 PM
Rank: Elder


Joined: 6/23/2009
Posts: 11,664
Location: nairobi
Ericsson wrote:
Post conversion of the preference shares to ordinary shares, KCB is buying NBK at a huge premium

Care to explain
COOP 5,500; KCB 3,700; KQ 221,100
Ericsson
#95 Posted : Sunday, June 16, 2019 7:01:24 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,702
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.
Ericsson
#96 Posted : Monday, June 17, 2019 4:15:57 PM
Rank: Elder


Joined: 12/4/2009
Posts: 6,702
Location: NAIROBI
When are the preference shares been converted to ordinary shares?
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