Fib Research - Nse Corporate Action History _1984-2008
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CORPORATE ACTION SUMMARY – 1984 TO 2008 Year 1984 1986 1988
1989 1990 1991 1992
Company Jubilee Insurance Company Barclays Bank Kenya
Type of Issue OFS IPO
Kenya Commercial Bank National Mills Corporation Total Kenya Nation Printers & Publishers Standard Chartered Bank Kenya Commercial Bank Kenya Finance Corporation
IPO IPO IPO OFS IPO OFS IPO
Housing Finance Uchumi Supermarket Crown Berger East African Oxygen CMC Holdings
Shares Issued Offer Price 800,000 14.50 5,000,000 16.00 7,500,000
Proceeds 11,600,000 80,000,000
Amounts Raised 25,520,000 490,400,000
Subscription Rate 220% 613%
150,000,000
490,500,000
327%
2,500,000 21,000,000 9,000,000 3,260,000
20.00 11.50 18.25 11.50 14.50 33.00 12.50
28,750,000 304,500,000 297,000,000 40,750,000
38,237,500 709,485,000 436,590,000 44,825,000
133% 233% 147% 110%
IPO IPO IPO
18,000,000 16,000,000 8,630,000
7.00 14.50 16.00
126,000,000 232,000,000 138,080,000
381,780,000 239,424,000 138,080,000
303% 103% 100%
IPO Divestiture
1,600,000 2,000,000
26.50 10.00
42,400,000 20,000,000
42,400,000 20,000,000
100% 100%
IPO IPO IPO OFS
40,000,000 17,929,290 40,000,000 7,500,000
35.50 52.00 10.00 14.50
1,420,000,000 932,323,080 400,000,000 108,750,000
1,434,200,000 727,212,002 1,320,000,000 48,500,000
101% 78% 330%
IPO IPO Rights OFS OFS
8,000,000 235,423,896 72,000,000 40,000,000 11,880,000
10.50 11.25 14.00 15.00 50.00
84,000,000 2,648,518,830 1,008,000,000 600,000,000 594,000,000
180,600,000 2,664,000,000 1,008,000,000 1,320,000,000 594,000,000
215% 101% 100% 220% 100%
1993
1994
1995 1996
Firestone East Africa NIC Bank (38% sale by BBK to Public) National Bank Uchumi Supermarket (KNTC 18.75%) Rea Vipingo Plantations Kenya Airways EA Portland Cement (Rights Issue) National Bank Kenya Commercial Bank
Faida Investment Bank Research Historical Information
::1::
Year 1997
Company
Type of Issue
TPS Ltd Athi River Mining Kenya Breweries Ltd
IPO IPO Rights
9,025,100 23,000,000 28,080,675
13.00 12.25 53.00
117,326,300 281,750,000 1,488,275,775
117,326,300 281,750,000 1,488,275,775
100% 100% 100%
I.C.D.C. Investment Kenya Commercial Bank
Rights OFS
9,419,476 28,050,000
30.00 65.00
282,584,280 1,823,250,000
259,964,000 3,518,872,500
92% 193%
OFS IPO
24,000,000 4,000,000
21.50 94.50
516,000,000 378,000,000
516,000,000 378,000,000
100% 100%
I.C.D.C. Investment (OFS) Kenya Orchards Standard Newspapers Group Total Kenya Mumias Sugar
OFS Rights Rights Rights IPO
8,948,725 7,400,000 76,871,154 70,030,000 300,000,000
37.00 0.50 5.85 18.00 6.25
331,102,825 3,700,000 449,696,251 1,260,540,000 1,875,000,000
211,905,808 2,965,859 305,793,451 1,260,354,708 1,120,000,000
64% 80% 68% 100% 60%
Express Kenya
Rights
38,400,000
6.50
249,600,000
178,002,500
71%
Kenya Commercial Bank
Rights
50,000,000
49.00
2,450,000,000
2,750,125,000
112%
Uchumi Supermarket CFC Bank
Rights Rights
120,000,000 12,000,000
10.00 62.00
1,200,000,000 744,000,000
1,269,600,000 744,000,000
106% 100%
KenGen Ltd Equity Bank Scangroup Diamond Trust Bank Eveready East Africa Mumias Sugar
IPO IPO IPO Rights IPO OFS
659,508,437 90,564,550 69,000,000 15,527,343 63,000,000 91,999,220
11.90 0.00 10.45 50.00 9.50 49.50
7,848,150,400 0 721,050,000 776,367,150 598,500,000 4,553,961,390
26,448,266,849 0 4,477,720,500 2,305,810,436 3,674,790,000
337% 100% 621% 297% 614% 0%
Shares Issued Offer Price
Proceeds
Amounts Raised
Subscription Rate
1998
2000 Pan African Insurance (African Life) African Lakes Corporation 2001
2003 2004 2005
2006
Faida Investment Bank Research Historical Information
::2::
Year 2007
Type of Issue
Company
Shares Issued Offer Price
Proceeds
Amounts Raised
Subscription Rate
Access Kenya Kenya Reinsurance Corp. Olympia Capital Holdings Diamond Trust Bank NIC Bank
IPO IPO Rights Rights Rights
80,000,000 240,000,000 30,000,000 23,291,015 16,482,910
10.00 9.50 14.00 70.00 70.00
800,000,000 2,280,000,000 420,000,000 1,630,371,050 1,153,803,700
2,904,000,000 7,752,000,000 428,400,000 2,902,060,469 1,719,167,513
363% 340% 102% 178% 149%
Safaricom Limited Housing Finance Kenya Commercial Bank Co‐Operative Bank of Kenya
IPO Rights Rights IPO
10,000,000,000 115,000,000 221,777,777 701,300,000
5.00 20.00 25.00 9.50
50,000,000,000 2,300,000,000 5,544,444,425 6,662,350,000
231,500,000,000 2,369,000,000 8,122,024,075 4,670,000,000
463% 103% 146% 70%
2008
TOP TEN IPOS ON THE NAIROBI STOCK EXCHANGE – 1994 TO 2008
1 2 3 4 5 6 7 8 9 10
Company Safaricom KenGen Ltd Co‐Operative Bank Kenya Airways Kenya Reinsurance Firestone E.A. Mumias Sugar Access Kenya Scangroup Eveready E. A.
Year Shares Floated Issued 2008 10,000,000,000 2006 659,508,437 2008 701,300,000 1996 235,423,896 2007 240,000,000 1994 40,000,000 2001 300,000,000 2007 80,000,000 2006 69,000,000 2006 63,000,000
Offer Price 5.00 11.90 9.50 11.25 9.50 35.50 6.25 10.00 10.45 9.50
% Floated 25% 30% 19% 51% 40% 22% 59% 40% 43% 30%
Subscription Proceeds Raised Ksh m USD m Rate 51,000 $750 463% 7,848 $108 336% 5,400 $69 81% 2,649 $48 101% 2,280 $34 505% 1,420 $32 101% 1,125 $14 60% 800 $12 363% 721 $10 621% 599 $9 614%
P/E 16.67 14.88 17.59 5.86 14.62 10.03 5.53 31.25 10.89 10.67
Pre Offer Market Cap. P/B Div Yield IPO USD m 5.57 2.00% 200,000 $2,941 0.78 1.93% 26,161 $358 4.58 0.84% 34,546 $443 2.17 8.40% 5,193 $94 0.93 2.63% 5,700 $85 6.76 4.73% 6,587 $150 0.74 13.44% 3,188 $41 15.63 0.70% 1,999 $29 6.61 2.20% 1,662 $23 5.72 7.79% 1,995 $29
Disclaimer The snapshot is based on information from sources that FIB believes to be reliable. It is subject to copyright and may not be reproduced in whole or in part without written permission. All views, opinions and estimates contained in this report may be changed after publication at any time without notice. Past performance is not indicative of future results. FIB will accept no responsibility of whatsoever nature in respect of any statement, opinion, recommendation or information contained in this document. For further information contact any FIB branch office.
Faida Investment Bank Research Historical Information
::3::
1989 1990 1991 1992
Company Jubilee Insurance Company Barclays Bank Kenya
Type of Issue OFS IPO
Kenya Commercial Bank National Mills Corporation Total Kenya Nation Printers & Publishers Standard Chartered Bank Kenya Commercial Bank Kenya Finance Corporation
IPO IPO IPO OFS IPO OFS IPO
Housing Finance Uchumi Supermarket Crown Berger East African Oxygen CMC Holdings
Shares Issued Offer Price 800,000 14.50 5,000,000 16.00 7,500,000
Proceeds 11,600,000 80,000,000
Amounts Raised 25,520,000 490,400,000
Subscription Rate 220% 613%
150,000,000
490,500,000
327%
2,500,000 21,000,000 9,000,000 3,260,000
20.00 11.50 18.25 11.50 14.50 33.00 12.50
28,750,000 304,500,000 297,000,000 40,750,000
38,237,500 709,485,000 436,590,000 44,825,000
133% 233% 147% 110%
IPO IPO IPO
18,000,000 16,000,000 8,630,000
7.00 14.50 16.00
126,000,000 232,000,000 138,080,000
381,780,000 239,424,000 138,080,000
303% 103% 100%
IPO Divestiture
1,600,000 2,000,000
26.50 10.00
42,400,000 20,000,000
42,400,000 20,000,000
100% 100%
IPO IPO IPO OFS
40,000,000 17,929,290 40,000,000 7,500,000
35.50 52.00 10.00 14.50
1,420,000,000 932,323,080 400,000,000 108,750,000
1,434,200,000 727,212,002 1,320,000,000 48,500,000
101% 78% 330%
IPO IPO Rights OFS OFS
8,000,000 235,423,896 72,000,000 40,000,000 11,880,000
10.50 11.25 14.00 15.00 50.00
84,000,000 2,648,518,830 1,008,000,000 600,000,000 594,000,000
180,600,000 2,664,000,000 1,008,000,000 1,320,000,000 594,000,000
215% 101% 100% 220% 100%
1993
1994
1995 1996
Firestone East Africa NIC Bank (38% sale by BBK to Public) National Bank Uchumi Supermarket (KNTC 18.75%) Rea Vipingo Plantations Kenya Airways EA Portland Cement (Rights Issue) National Bank Kenya Commercial Bank
Faida Investment Bank Research Historical Information
::1::
Year 1997
Company
Type of Issue
TPS Ltd Athi River Mining Kenya Breweries Ltd
IPO IPO Rights
9,025,100 23,000,000 28,080,675
13.00 12.25 53.00
117,326,300 281,750,000 1,488,275,775
117,326,300 281,750,000 1,488,275,775
100% 100% 100%
I.C.D.C. Investment Kenya Commercial Bank
Rights OFS
9,419,476 28,050,000
30.00 65.00
282,584,280 1,823,250,000
259,964,000 3,518,872,500
92% 193%
OFS IPO
24,000,000 4,000,000
21.50 94.50
516,000,000 378,000,000
516,000,000 378,000,000
100% 100%
I.C.D.C. Investment (OFS) Kenya Orchards Standard Newspapers Group Total Kenya Mumias Sugar
OFS Rights Rights Rights IPO
8,948,725 7,400,000 76,871,154 70,030,000 300,000,000
37.00 0.50 5.85 18.00 6.25
331,102,825 3,700,000 449,696,251 1,260,540,000 1,875,000,000
211,905,808 2,965,859 305,793,451 1,260,354,708 1,120,000,000
64% 80% 68% 100% 60%
Express Kenya
Rights
38,400,000
6.50
249,600,000
178,002,500
71%
Kenya Commercial Bank
Rights
50,000,000
49.00
2,450,000,000
2,750,125,000
112%
Uchumi Supermarket CFC Bank
Rights Rights
120,000,000 12,000,000
10.00 62.00
1,200,000,000 744,000,000
1,269,600,000 744,000,000
106% 100%
KenGen Ltd Equity Bank Scangroup Diamond Trust Bank Eveready East Africa Mumias Sugar
IPO IPO IPO Rights IPO OFS
659,508,437 90,564,550 69,000,000 15,527,343 63,000,000 91,999,220
11.90 0.00 10.45 50.00 9.50 49.50
7,848,150,400 0 721,050,000 776,367,150 598,500,000 4,553,961,390
26,448,266,849 0 4,477,720,500 2,305,810,436 3,674,790,000
337% 100% 621% 297% 614% 0%
Shares Issued Offer Price
Proceeds
Amounts Raised
Subscription Rate
1998
2000 Pan African Insurance (African Life) African Lakes Corporation 2001
2003 2004 2005
2006
Faida Investment Bank Research Historical Information
::2::
Year 2007
Type of Issue
Company
Shares Issued Offer Price
Proceeds
Amounts Raised
Subscription Rate
Access Kenya Kenya Reinsurance Corp. Olympia Capital Holdings Diamond Trust Bank NIC Bank
IPO IPO Rights Rights Rights
80,000,000 240,000,000 30,000,000 23,291,015 16,482,910
10.00 9.50 14.00 70.00 70.00
800,000,000 2,280,000,000 420,000,000 1,630,371,050 1,153,803,700
2,904,000,000 7,752,000,000 428,400,000 2,902,060,469 1,719,167,513
363% 340% 102% 178% 149%
Safaricom Limited Housing Finance Kenya Commercial Bank Co‐Operative Bank of Kenya
IPO Rights Rights IPO
10,000,000,000 115,000,000 221,777,777 701,300,000
5.00 20.00 25.00 9.50
50,000,000,000 2,300,000,000 5,544,444,425 6,662,350,000
231,500,000,000 2,369,000,000 8,122,024,075 4,670,000,000
463% 103% 146% 70%
2008
TOP TEN IPOS ON THE NAIROBI STOCK EXCHANGE – 1994 TO 2008
1 2 3 4 5 6 7 8 9 10
Company Safaricom KenGen Ltd Co‐Operative Bank Kenya Airways Kenya Reinsurance Firestone E.A. Mumias Sugar Access Kenya Scangroup Eveready E. A.
Year Shares Floated Issued 2008 10,000,000,000 2006 659,508,437 2008 701,300,000 1996 235,423,896 2007 240,000,000 1994 40,000,000 2001 300,000,000 2007 80,000,000 2006 69,000,000 2006 63,000,000
Offer Price 5.00 11.90 9.50 11.25 9.50 35.50 6.25 10.00 10.45 9.50
% Floated 25% 30% 19% 51% 40% 22% 59% 40% 43% 30%
Subscription Proceeds Raised Ksh m USD m Rate 51,000 $750 463% 7,848 $108 336% 5,400 $69 81% 2,649 $48 101% 2,280 $34 505% 1,420 $32 101% 1,125 $14 60% 800 $12 363% 721 $10 621% 599 $9 614%
P/E 16.67 14.88 17.59 5.86 14.62 10.03 5.53 31.25 10.89 10.67
Pre Offer Market Cap. P/B Div Yield IPO USD m 5.57 2.00% 200,000 $2,941 0.78 1.93% 26,161 $358 4.58 0.84% 34,546 $443 2.17 8.40% 5,193 $94 0.93 2.63% 5,700 $85 6.76 4.73% 6,587 $150 0.74 13.44% 3,188 $41 15.63 0.70% 1,999 $29 6.61 2.20% 1,662 $23 5.72 7.79% 1,995 $29
Disclaimer The snapshot is based on information from sources that FIB believes to be reliable. It is subject to copyright and may not be reproduced in whole or in part without written permission. All views, opinions and estimates contained in this report may be changed after publication at any time without notice. Past performance is not indicative of future results. FIB will accept no responsibility of whatsoever nature in respect of any statement, opinion, recommendation or information contained in this document. For further information contact any FIB branch office.
Faida Investment Bank Research Historical Information
::3::
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