OCHL has been one of the "quietest" counters on the NSE but it has zoomed ahead after the announcement of an acquisition... Now it has become a "hot" stock as the trade volumes have significantly increased.
OCHL has been trading in the KES 14-17 range from 1 Jan 2006 through 8 Oct 2006. The current price rise started on 9 Oct 2006 (16/-) to the current 25/- (16 Oct 2006). The current high is 26/- which beat the 2005 high of 25/-.
I had posted a link that would have provided the 1H 2006 Reports
Here is my original blog entry on 28 July 2006.
OCHL (listed in Kenya) owns 53% of OCC (listed in Botswana).
OCC (B) plans to acquire 74% of Plush Pty Ltd of South Africa.
Price is approx KES 160 Million (depends on the exchange rates). Rand, Pula & KES...
1H 2006 Results for OCHL were released on 28 July 2006. They are available as a free download courtesy of Investing In Africa.
The Kenyan operation performed much better while OCCC (B) posted higher revenues but a lower profit during 1H 2006 vs 1H 2005.
OCC(B) has issued a cationary on the SA acquisition earlier in the year as well as mention it on the 1H 2006 Results' commentary.
OCHL is planning a Rights Issue to fund its portion of the SA acquisition -through a OCC(B) Rights- as well as upgrading its Kenyan manufacturing plant.
S.Africa will host the 2010 FIFA World Cup thus the construction sector is likely to see a boom as roads, buildings, stadiums & other infrastructure is refurbished or newly built.
BTW... on Page 18 of Nation's Smart Company (17 Oct 2006), the "Pick of the Week" claims OCHL has a Namibian subsidiary... Hmmm... just coz Namibia borders Botswana does NOT make Botswana part of Naimibia! Is Kenya in Uganda?
Some Kenyans complain that Americans think "Africa" is one country... well some Kenyans think Botswana is in Namibia!
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