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CIC Insurance 2019
Kenyan Oracle
#81 Posted : Saturday, June 20, 2020 10:50:10 AM
Rank: Member


Joined: 5/31/2011
Posts: 187
littledove wrote:
Ericsson wrote:
Ericsson wrote:
Cooperative bank reduced shareholding in cic from 26.1% to 24.8%

From 26.53% to 24.8%

what was probably the reason,i know coop is not struggling to the extent they needed the cash


Could it be a sign of things to come?
You lose money chasing women, but you never lose women chasing money - NAS
VituVingiSana
#82 Posted : Saturday, June 20, 2020 11:49:40 PM
Rank: Chief


Joined: 1/3/2007
Posts: 17,108
Location: Nairobi
littledove wrote:
Ericsson wrote:
Ericsson wrote:
Cooperative bank reduced shareholding in cic from 26.1% to 24.8%

From 26.53% to 24.8%

what was probably the reason,i know coop is not struggling to the extent they needed the cash
Or going below the 25% so it isn't considered an associate?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Ericsson
#83 Posted : Saturday, July 11, 2020 12:44:59 AM
Rank: Elder


Joined: 12/4/2009
Posts: 8,576
Location: NAIROBI
VituVingiSana wrote:
littledove wrote:
Ericsson wrote:
Ericsson wrote:
Cooperative bank reduced shareholding in cic from 26.1% to 24.8%

From 26.53% to 24.8%

what was probably the reason,i know coop is not struggling to the extent they needed the cash
Or going below the 25% so it isn't considered an associate?

At 24.8% ownership it still qualifies as an associate company;

"An associate company (or associate) in accounting and business valuation is a company in which another company owns a significant portion of voting shares, usually 20–50%. In this case, an owner does not consolidate the associate's financial statements."
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