Coop bank to go public in 08

Company says it will sell shares through the nse in 2008 so as to realize real value of its shares currently stuck at just one hundred bob. no details yet on amount of shares and other info. it will come out at agm on the 25th of april.

Initially aims to raise just five billion for expansion of branches and investment in ict.


Year 2007 results

- P b t 2.32. billion. A growth of 85 percent
- Growth in interest income by 1.1 billion
- Loan portfolio up by 35 % to hit 38.4 billion
- Company to open 20 new branches some in kayole, river road,upcountry.
- Dividend of 8 shillings per share up from ksh. 5 in 2007

safaricom bytes

first, the hole at francis thuo grows ever bigger as investor were not allowed to migrate today as earlier promised. names were taken down but nothing has happened towars compensation. the about 130 000 investors spent the day milling aroud nation centre even as kimuna on friday said affected investors could open and operate parralel cds accounts so as to continue trading. more.........

when mobile phone tech was introduced in the country the then president received an honorary shareholding in exchange for political goodwill... in both safaricom and kencell..... the safaricom chunk isnow worth about 20 billiob, held thro proxy in a company known as mobitelea, domiciled in the guernsey islands. mobitelea owns part shareholding in safricom thro vodafone kenya in conjunction with vodafone uk.

according to the ksh.5/- valuation, safaricom is worth just over 200 million shillings or just over 3 million dollars.. the shares are being sold at a disounted rate not at par so the valuation could go between 233 and 243 billion shillings, (not quite sure which).

technical details like international v/s local investor ratios are still closely guarded as is the composition of institutional v/s retail investors.

i think safaricom will head south of five bob when it stabilizes because....
one........ it will suck up so much other equity and credit funding that a temporary crunch will be occasioned, meaning that the price of liquidity will go up drawing away those with largesums towards financing those committed especially in the short term

two..... all the hype...... every one and their uncle will go for safaricom, both befoe and after ipo..... it will actually be attractive for institutitonal investors to sell off and double their money, so soon over supply will take its toll.

btw..... anyone know what is going on with kcb...... all tose massive share movements at least two million daily??? the minister says its a vibrant market....... :)

jam on jogoo road

jogoo road looked like this

safaricom at last

finance minister amos kimunya sys that those implicated in the collapse of francis thuo and nyaga may be charged under economic crimes act, plus date for safaricom ipo and pricing set to be announced tomorrow.

the first post

i have tried this blogging stuff severally and dropped out just as many times. i hope this one sticks...... in nairobi kenya..... or not... just somewhere.

.......the bog is about anything that catches mu fancy...... current affairs, business, movies...... plenty of serious stuff and some rumours too.

... my motivation....... i look up to bankelele who has managed to do this for so long without getting bored...... whats your secret? i hope i will be able to post a few pictures too, funny or otherwise........ i do get to meetmany wheeler dealers... so i hope to have a lot of juicy stuff on ua plates soon........ but the name...... it comes from a classic cowboy series called the bonanza. the panderosa is supposed to be a ranch they own that encompasses much of what is today, the state of virginia and virginia city.....( or at least i think so.)



my blog will go down memeory lane and have not a small amount of nostalgia.



i have been criticised severally by my betters for writing in a flowery or too difficult a style...( no, that is not a pointer to what i do) today i a attended the investor briefing cum unaudited six month results release for eabl..

pbt up 22 percent
volumes up 21 percent
turnover for six months to dec 31 07 up 27 percent.
lots of cash in the bank..... 6 bil in term deposits allegedly for investment soon
dividend of ksh.2.40 per share up 34 percent....

however may post a slow down for third quater although management confident there was growth.