| Equity to sell shares held by foreigners (2008-08-22) |
| Equity Bank has announced plans to dilute its foreign shareholding through an initial public offering (IPO) at the Nairobi Stock Exchange. |
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| Co-op bank set for its Initial Public Offer (2008-08-19) |
| The Co-op Bank Initial Public Offer (IPO), set to raise Sh10B, is expected to roll out on October 20, if the CMA gives a go- ahead for the sale. |
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| Athi River Mining forecasts 22 % earnings and sales growth (2008-08-18) |
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Athi River Mining (ARM) expects to maintain 22 per cent earnings and sales growth this year. Based on the six months figures, ARM management is confident they can achieve this.
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| Barclays makes shs.4.3B pre-tax profit (2008-08-14) |
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Barclays Bank of Kenya has announced a 21 per cent growth in pre-tax profits for the half year ending June 30, 2008.
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| Safaricom market share under threat (2008-08-14) |
| Safaricom has conceded its market share is likely to start declining due to the intensifying competition. |
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| Ecobank- targets retail customers (2008-08-14) |
| West African banking giant, Ecobank will focus more on retail customers as it rolls out its services in the country. |
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| Celtel rebrands to Zain (2008-08-11) |
| Celtel International has been acquired by Zain group, a leading telecommunications mobile operator serving over 50million customers in 22 countries across the Middle East and Africa. |
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| National Bank pretax profits up 46% (2008-08-11) |
| National bank has realised a 46% improvement in half year profit before tax to Ksh.902Million compared to Ksh.617Million during the same period last year. |
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| KCB profits increase by 69% (2008-08-11) |
| KCB recorded 69% increase in profits before tax in the first half year of this year. The earnings increased to sh.3.5b compared to sh.2.07b last year.
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| Equity partners with Care (2008-08-02) |
| Equity Bank and Care International have jointly launched a new product specifically targeting livestock traders and ranchers |
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| Market Recommendation-July 2008 (2008-07-03) |
| SHARES ANALYSIS; JULY 2008
COMMERCIAL AND SERVICES
ACCESS KENYA
Being the only listed ISP at the bourse, this company is on an aggressive growth stage that is set to position it positively in the stock market. It continues to enjoy monopoly in the market being the only company from the ICT sector that is listed.
The company has continued to impress investors not only because of its market leadership but also with its strong financial performance. This coupled with its prospective growth strategies such as the planned expansion of the Broadband coverage to rural areas make this counter a must have in anyone’s portfolio. It is currently gaining momentum and is biding in the levels of sh.35 - 36.
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| KCB Rights Issue Timetable (2008-06-30) |
| Register closure date: 3.00 4th June 2008 |
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| Ecobank takes over EABS (2008-06-30) |
| Ecobank, a major player in the banking industry in Africa, has finalized on its acquisition of 75% shareholding in EABS bank. |
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| Equity Bank now in Uganda (2008-06-30) |
| Equity Bank has finally been given the go ahead to acquire 100% stake of Uganda Micro Finance Limited. UML share holders approved of the deal in the past week that will see them get 8million shares in Equity. This is equivalent to 2.2% share holding into Equity. |
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| Housing Finance Launches Rights Issue (2008-05-20) |
| The mortgage financier has launched a rights issue that is expected to raise Kshs2.3Billion. The rights are on a one to one ration meaning that an investor will be entitled to one share for every one share held. |
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| Stanbic-CFC merger concluded (2008-04-08) |
| Described as the largest merger deal in the country’s history, the Kshs19billion merger between Stanbic Bank, a subsidiary of South Africa’s Standard Bank and CFC Bank has received the final regulatory approval. |
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| Safaricom IPO: General Schedule (2008-03-20) |
| With the confirmation of the Safaricom IPO, these are the facts
you need to have as an investor;
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| Weekly Report(25th-29th Febraury) (2008-03-04) |
| STOCK MARKET PERFORMANCE REPORT
The past week is definitely one to be remembered in Kenyan history with the political stalemate in the country finally being settled. The NSE reacted to the settlement with a three fold jump in daily turnover from Kshs287mn to Kshs800mn, with renewed confidence in the market pushing up almost all stock prices. |
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| NSE launches new index (2008-02-28) |
| The Nairobi Stock Exchange has introduced a new share index. The NSE chairman, Jimnah Mbaru said that the all new share index will be complimentary to the NSE 20 share index but will not replace it. |
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| Weekly Report(18th-22nd February) (2008-02-27) |
| STOCK MARKET PERFORMANCE REPORT
Subdued activity over the week, with low demand for most counters in spite expected results from most of the financial counters. Most investors have taken a wait and see approach while a few of them are taking advantage of the low prices to build positions in the Blue Chip firms at the bourse. |
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