NAIROBI, May 112011… Centum Investment Company Limited, East Africa’s largest publicly listed investment company, has officially announced substantial divesture of its 22% shareholding from the Nairobi Stock Exchange listed Carbacid Investment Ltd.
The divestiture was driven by the need to raise funds to invest in other opportunities that have the promise of delivering even better returns.
Centum Chief Executive Officer James Mworia, confirmed the move saying; “We acquired the 22% equity block in Carbacid for Kshs 418 million ($4.9 million) in May 2009. Over the two years we have held this investment it has generated Kshs 1.2 Billion ($14.2 million) in dividends and disposal proceeds. We still believe that Carbacid has very strong business fundamentals, which are underpinned by an expected expansion of the beverage sector and the strong economic growth in the region.”
“We have now developed an attractive pipeline of opportunities across Sub-Saharan Africa and it is important that we rank the return potential of our existing investments against that of potential investments,” he explained.
Mworia noted that Centum had made a holding period return of 190% and this investment was illustrative of the sort of investments the Company is making and demonstrates Centum’s capacity to create real tangible wealth for its investors.
He added that this exit showed that there was sufficient liquidity and depth in our capital markets and that there exist opportunities to generate market beating returns not only in Kenya but in most of Sub-Saharan Africa.
Centum, which is listed on the Nairobi Stock Exchange (NSE) and the Uganda Securities Exchange (USE), seeks to provide investors with access to a portfolio of inaccessible, quality and diversified investments in the firm’s quoted private equity, private equity and real estate and infrastructure business lines.
The company has maintained a strong track record of delivering market beating returns. Between March 2009 and September 2010, Centum increased its asset base from Kshs 6.4 billion ($75 million) to Kshs 12.3 billion ($144 million) and has delivered a 146% return to its shareholders with its market capitalization increasing to Kshs 13.9 billion ($163 million).
NIC Capital advised Centum on the Carbacid exit.
Kampala/ Nairobi; February 10 2011… Centum Investment Company’s geographical expansion moved a step forward today when its shares went live for trading at the Uganda Securities Exchange (USE), bringing to fruition the firm’s bid to cross list on the Kampala bourses respectively.
Chief Executive Officer James Mworia accompanied by the Chairman of the USE Charles Mbire rang the bell on the trading floor to officially mark the commencement of trading at 9.00 a.m. today bringing the total number of Kenyan firms with shares trading here to six and the total listed companies on the exchange to thirteen.
Nairobi November 23 2010…Leading public investment company Centum remained firmly on a growth path to register a record 867 per cent rise in half year pre -tax profit.
Unaudited results for the six month period ending September 30 2010 showed that Centum Investment’s company profit before tax was Kshs. 760 million compared to Kshs. 80 million in the previous period.
The company’s comprehensive income was Kshs. 1.386 Billion compared to Kshs. 320 million in the comparable period while the group’s comprehensive income was Kshs. 969 million compared to Kshs. 303 million in September 2009.
Nairobi October 4, 2010… Centum Investment Company limited bonus shares began trading today at the Nairobi following a successful issue that was approved by the firm’s shareholders during the 43rd Annual General Meeting last month.
According to a timetable released by the company and which was approved the Capital Markets Authority after the AGM, the 54,995,183 new shares, issued on a ten for every one held by shareholders were credited to their respective CDS accounts on 30th September.
Nairobi September 24, 2010…Centum Investment Company today inched closer to achieving its regional presence when the more than 2,000 shareholders attending the 2010 AGM ratified the Board and management proposal to list the firm’s shares on the Uganda Stock Exchange.