Tuesday, August 12, 2008

Coop Bank IPO is Next

NSE is overweight with financial shares, and may get heavier with the listing of Co-operative Bank later this year. The listing is expected to raise 10 billion shillings ($150 million) for growth and expansion. The shareholders transferred the assets and liabilities of the bank to a limited liability company (from a co-operative socirty) last week. – and their class B shares (par value Kshs. 100 shillings will be split into shares of par value Kshs. 1)

However as a long suffering customer of the bank, I may not add to might already overweight basket of financial stocks.

edit - Co-Op IPO opens October 20 2008



- Kenya Airways; are offering a novel business trip package – 4 trips for $1,000 to be completed by March 2009 for trips to Dubai, Bangkok, honk Kong, Guangzhou
– Delta airlines open a Nairobi office
Railway destiny in local hands
- The Government wants Rift Valley Railways to increase capacity, lay more tracks, and transfer cargo ASAP. ICDCI looks at RVR as a long term investment, but they hope to get return on the investment within 4 years. They own 10% of the company and will acquire another 10% from IFC over the next four years.

- Zain will increase share capital by 75% (raising $4.5 billion) from its Kuwaiti shareholders for expansion in Africa. They are already advertising to put up base stations and adding dealers in Kenya
- good to know Econet has the most subscribers in Zimbabwe.. That’s an ARPU in millions?

Dividend cycles
how long goes it take some NSE companies to pay declared dividends?

One month: Standard chartered (interim), Kenol (interim)

Two months: Barclays, BAT, Olympia

Three months Crown Paints, TPSEA (Serena), Jubilee, Nation Media, Total, HFCK, Diamond Trust, Pan Africa, NIC, Standard Chartered (final), Bamburi (interim)

Four months: Centum (ICDCI), Standard Newspapers, Access Kenya, Eveready, Bamburi (final)

Five months: Kenya Re, Kenya airways, Express, Rea Vipingo


Gitts said...

In Zim ARPU must be like safcom's pre tax , in the billions!

I wonder how good an investment co-op will be in the long term. One thing it has are many depositors- those queues are too deadly.

coldtusker said...

Zim ARPU is 'lower' now that the Z$ was revalued by 10,000,000,000....

Co-op bank might not be a slam-dunk unless they are sold cheap coz other banks look good e.g. KCB...

Mashatall said...

Co-op bank might not be a good buy long term, considering that its biggest fund base is the co-operative sector. Will the saccos still maintain accounts with the bank as per government regulations? or can they bank elsewhere for better services? That will be a huge determinant of whether they will rake in good profits.

MainaT said...

Coop might want to shift its IPO to next year by when investors will have forgotten the last IPO they took part in.

Proud Kikuyu Woman said...

That's cool of KQ-the 4 trips for $IK, that's return?

bankelele said...

Gitts: I’m a (mostly) frustrated co-op customer too and if bad service is lucrative, it’s a good share. Right?

Coldtusker: pity Zimbabweans.
Co-op has crowds, equity has crowds, and kcb have crowds. I really doubt the ‘unbanked’ numbers that are thrown around these days. Some people don’t want or need bank accounts

Mashatall: good point, though I don’t think they are all required to bank with co-op. they have crowds of customers lured by pretence of cheap banking and who contribute to growing profits

MainaT: Safcom dragging down everyone, postpone may be a good idea

PKW: I believe they are round-trip but conditions apply as in all tickets, and probably don’t include tax which may add another 60% to your cost.

Rafiki said...

Banks & PKW: The KQ offer is not for 4 trips, but for one trip with stopovers. It’s for Nairobi - Bangkok - Hong Kong // Guangzhou- Dubai - Nairobi. For the sector Hong Kong - Guangzhou KQ is not doing the carriage, it's on the passenger's own arrangement.

Mitzy said...

Where is the Delta Nairobi office?


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