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Topic: Co-op bank IPO - kingfisher  [717 views | 6 replies]
Thursday, April 10, 2008 16:38
Anyone with any details about the Co-op bank IPO being talked about?

Kenya ni yetu,mpende msipende!!
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Co-op bank IPO [mdosi]
Friday, April 11, 2008 19:45


The co-op ipo will come at a low price but after they have split the share from its current price.  It is said that it will be listed the way Equity did,i.e it wont actually be an ipo but listing of the company at the NSE. If you remember equity didnt have an ipo. The catch here is that the share will sky rocket upon listing hence the current share holder will turn millionares over night.

Imagine buying this share now at 110-120,after slipt you get eg 5:1 and upon listing the share jumps to maybe ksh50. If you really want to make a kill,buy now. Over to you. 

Growing old is mandatory but growing up is optional.
Co-op bank IPO [bushlink]
Friday, April 11, 2008 10:34

@ Mdosi     

y would i want to buy the shares for 100-120 while the IPO price wount be more than 25 bob??

the magic of multiple cds accounts will work & yah,it mite turn out to be a better deal than safcom.

A Bend in the Road is not an End of the Road Unless u Fail to Make the Turn
Co-op bank IPO [Angelfish]
Thursday, April 10, 2008 20:27

all will depend on the outcome of the AGM supposedly to be held this month of April.if the AGM sez no,then its no but if it sez yes,then line ur pockets coz this one will be much better than this safcom crap

Penda jirani yako kama vile unavyojipenda
suntra inv't can help [mdosi]
Thursday, April 10, 2008 18:48

I happen to know that suntra investment bank buys co-op bank shares at the moment for clients. You can ring them and ask for Hilda. Currently the share is trading between Ksh100 & Ksh120.

Growing old is mandatory but growing up is optional.
Co-op bank IPO [Murenik]
Thursday, April 10, 2008 17:48

Anyone knows how one can acquire these shares over the counter.If you are selling maybe we can talk.

Financial analysts give good advice if you do the opposite.
Co-op bank IPO Details [savant]
Thursday, April 10, 2008 17:10

Co-operative Bank of Kenya will sell its shares through an initial public offering (IPO) in the third quarter of the year.

The bank,currently wholly owned by the cooperative movement,is the only the second company after Safaricom that plans a listing at the Nairobi Stock Exchange this year.

Safaricom’s IPO kicks off on March 28. Co-operative Bank’s planned listing is an attempt to raise an additional Sh5 billion from the market.

“We want our shareholders to know the value of their shares,” said managing director Gideon Muriuki,  in his office on Wednesday,when he released the bank’s financial results for the year ended December 31,2007.

Driven largely by significant growth in interest and commission income,the institution’s pre-tax profit rose by 84 per cent from Sh1.26 billion in December 31,2006,to Sh2.32 billion last year.

This represents a complete turnaround for the bank from 2001,when it recorded a Sh2.3 billion loss.

On the IPO,whose proceeds will go towards funding further growth and expansion,Mr Muriuki said the bank’s Board of Directors,which has already approved it,will seek the shareholders’ nod at their Annual General Meeting slated for April 24,2008. “If the shareholders approve it (IPO),we will then seek the necessary statutory approvals from the Central Bank of Kenya, Capital Markets Authority and NSE,” said the MD.

The board approved an enhanced dividend payment of Sh8 per share for 2007,up from the Sh5 per share paid in 2006. During the period under review, interest income grew from Sh4.4 billion to Sh5.5 billion,as commission income increased to Sh3.8 billion. Loans and advances to customers grew by 35 per cent from Sh28.4 billion in 2006 to Sh38.4 billion in 2007.

“During the year,we continued to enhance our risk management systems with,notably,a major cleanup of the balance sheet,” he said.

Customer deposits grew from Sh48 billion recorded in 2006 to Sh55 billion in 2007,a 14.5 per cent growth,as its customer base reached 750,000.

Projecting that the bank’s profits would hit the Sh3.5 billion mark this year,Mr Muriuki outlined an ambitious expansion plan for the year, including a 24 hour call centre,and opening 20 new branches in Nairobi,Rift Valley and Coast provinces in addition to the current 43.

It will also open an additional 50 automated teller machines (ATMs) by December 31,boosting its current network of 150 ATMs.

The institution’s subsidiaries,Co-op Consultancy Services and Co-optrust Investment Services Limited,continued to perform well in offering corporate finance and fund management services respectively during the year.

For instance,Co-optrust Investment Services has increased the funds under its management to Sh17.6 billion up from Sh11.5 billion recorded in 2006,representing a 53 per cent growth.

To appreciate the beauty of a snow flake,it is necessary to stand out in the cold.
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