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?
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