Billionaire businessman Ngugi Kiuna is seeking the termination of the Carbacid Investments’ buyout of BOC Kenya after filing an objection to the deal at the Capital Markets Tribunal citing undervaluation. Mr Kiuna, a former BOC Kenya chairman, said the Capital Markets Authority (CMA) erred in approving the takeover by ignoring the undervaluation of BOC besides […]
Former BOC Kenya chairman Mr Ngugi Kiuna has petitioned the Capital Markets Tribunal to stop the BOC Kenya buyout by Carbacid Investments. According to Mr Kiuna who holds 1.4 million BOC shares equivalent to a 7.6 percent stake, BOC Kenya was undervalued in the deal and the Capital Markets Authority (CMA) erred in approving the […]
PHOTO | COURTESY The lack of improvements to the offer is seen dampening the transaction with an independent advisory opinion by Dyler and Blair Investment Bank pricing Carbacid at a higher Ksh.91.76 a share. Carbacid has countered the independent advisory with Chairman Dennis Awori terming the offer price at a premium as he expects his […]
Nakumatt supermarket chain could close down anytime following fears that almost 15 companies listed on the Nairobi Stock Exchange have plunged into loses. “The middle class in Kenya are getting trapped in poverty and, therefore, have no disposable income to support supermarkets, for example, which has led to the closure of many retail stores,” NSE […]
Listed investments firm Carbacid Investments has announced an 18 percent after-tax profit jump in its half-year results. The results published Wednesday indicate that Carbacid Investments Limited (CIL) net profit for the half-year ended 31 January 2021 accelerated to Kshs 210 million up from Kshs 178 posted for the same period last year. Despite the challenges […]
NAIROBI, Kenya Feb 25 – Listed investments firm Carbacid Investments (NSE: CARB) has announced an 18% after-tax profit jump in its half-year results. The results published today indicate that Carbacid Investments Limited (CIL) net profit for the half-year ended 31 January 2021 accelerated to Sh210 million up from Sh178 posted for the same period last […]
A Carbacid East Africa truck Listed investments firm Carbacid Investments has announced an 18 per centincrease in net profit in its half-year results. The firm recorded Sh210million in profit for the half year ended 31 January 2021 from Sh178million recorded in the same period last year. Despite the challenges posed by the Covid-19 pandemic in […]
NAIROBI, Kenya, Feb 24 – The offers from Carbacid Investments Limited and Aksaya LLP to acquire all the issued shares of BOC Kenya Plc opened on Friday 19 February 2021 following the circulation of the offer documentation to shareholders of BOC. Since the issue of the Notice of the Intention by the offerors to acquire […]
BOC, which has operated in Kenya since 1940, produces and supplies industrial, medical and special gases. FILE PHOTO | NMG BOC Kenya’s net profit jumped 88 percent in the year ended December, partly helped by increased demand for oxygen in hospitals caring for coronavirus patients who need assisted breathing. The Nairobi Securities Exchange-listed firm posted […]
Carbacid Investments posted a 17.7 percent net profit growth in the half-year ended January, helped by increased sales of carbon dioxide. The company’s net earnings in the six-month period stood at Sh210.4 million compared to Sh178.6 million the year before. Sales of carbon dioxide, which is used to make fizzy beverages among other applications, jumped […]
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