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Tuesday, October 31, 2006

Eveready EA to go public - Offer for Sale

Why would Eveready NOT have a functioning website?

Someone tell Eveready that it makes sense to post info on the company so potential investors can view it?
Or do Kenyan investors not care about information?

At 9.50, I see cucus lining up to buy shares! The minimum applications are:
  • Retail (65% of Offer) 1,000 shares = 9,500/-
  • Corporate (30% of Offer) 10,000 shares = 95,000/-
This is an Offer for Sale thus the Proceeds go into the Seller's pockets NOT to the Company. Merali did the same thing will the ill-fated listing of Firestone (now Sameer Africa).

This is a small issue (KES 600 Million) for Kenya's current bull market thus there is a strong likelihood of an oversubscription going by ScanGroup's IPO.

Opens on Nov 13 - 24

Read the PROSPECTUS...

10 comments:

bankelele said...

Thanks for the update. Seeems like any new share priced cheaply will sell - you can even flog kenya railways in this market

Anonymous said...

Banks, thats true the NSE can now resuscitate anything, speculators are desperate even for a donkey's skin!!

pesa tu said...

Most definately a buy for short term trading.Unless they shift production to Egypt or Asia just like CADBURYS, long term potential is dead.

P.s. thinking of opening multiple CDS A/C's to play it.

pesa tu said...

By the way Kenyans dont read Prospectus Documents.
We r either the smartest investors as a result or the luckiest.

coldtusker said...

kudri - Nice idea but which sucker will buy from you?

banks - KR without old debt, fewer employess and new management will probably be a success.

jaka - how many CDS accounts???

pesa tu - Well, I have not read the prospectus (is it out?)... buyer beware!

coldtusker said...

Tips:

Read the Prospectus first (for those that want to)...

Apply for 1,000 only coz I doubt there will be a "full" allocation even for 1,000 shares!

Sell if the prices rises too high, too fast...

Anonymous said...

CT, I had one account with FD but then because the govt thinks it can give one names it deems fit, the names in my passport are different from the ones in the ID. So last week I when I scouting for an efficient broker I settled on Sterling and opened another account with them.

Anonymous said...

Am apply for only 1k in each account, am sure even getting 500 will be hell!!

coldtusker said...

kudri - Well, you need to take a hike to stockskenya to see some of your "victims"... LOL...

When the market crashes, it will be a long slow crash...

Unless the "real" profits for the listed firms zoom up, there is nowhere for the prices to go but either be listless or go down!

Some NSE valuations are higher than in US markets!

coldtusker said...

Well... have you checked my latest entry on City Trust?

I saw the info on the NSE pricelist. I do not know what to believe.

Riba also has the info on his website so I am not the only one who saw the price!