BOC Kenya fails to recommend Carbacid buyout
Monday February 22 2021
BOC, which has operated in Kenya since 1940, produces and supplies industrial, medical and special gases. FILE PHOTO | NMG
By VICTOR JUMA
Summary
The decision comes after an independent adviser hired to review the transaction declared that Carbacid s offer to buy BOC Kenya at Sh63.5 per share undervalues the industrial and medical gases manufacturer by 30.8 per cent.
Dyer and Blair Investment Bank wrote to the board of BOC, stating that the company has a fair value of Sh91.76 or an aggregate of Sh1.7 billion.
This is Sh552 million more than Carbacid s total bid price of Sh1.2 billion.
BOC profit up 88pc on rise in oxygen demand
Tuesday February 23 2021
BOC, which has operated in Kenya since 1940, produces and supplies industrial, medical and special gases. FILE PHOTO | NMG
By VICTOR JUMA
Summary
The Nairobi Securities Exchange-listed firm posted a net income of Sh105.2 million in the review period compared to Sh55.9 million a year earlier.
This came as sales increased 12.5 percent to Sh1 billion from Sh975.8 million.
BOC’s financial performance in the review period is based on unaudited management accounts.
BOC Kenya’s #ticker:BOC 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 East African
Tuesday January 19 2021
An ATM booth. Most customers in Kenya opted to use mobile money over debit or credit cards in the wake of the pandemic. PHOTO | FILE | NMG
Summary
Customers stopped using debit, credit and prepaid charge cards in favour of mobile money payment platforms such as M-Pesa, whose transactions of up to $9.17 were free.
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Top banks in Kenya have raised a red flag over an expected significant drop in net earnings for the year 2020.
They cite deteriorating economic conditions and the Covid-19 containment measures, which have seen the entire banking industry lose over Ksh1.2 billion ($11 million) worth of revenues from card payments to telcos mobile payment platforms in nine months.