NAIROBI SE's HIGH PRICED EQUITIES.
In the wake of Nigeria's high priced quoted companies posted in this blog a while ago, Henates took a look to at Nairobi Securities Exchange June 23 official list to identify its high priced equities and the outcome was interesting too.
Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value.
A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this.
On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly.
Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued.
Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.05 Ksh per share.
However, in the last one year, while also most times dominating volume and not traded value because of its low nominal price, it has been the 3rd least volatile of the top 15 high priced shares.
At the second position amongst top 10 high priced equities were the duo of East African Breweries and Britam Holdings.
Manufacturing sector's leading value contributor, EA Breweries at 264 Ksh average price by June 23, was priced 132 times its 2.0 Ksh nominal value and in the last one year, also was the 3rd most volatile of the 15 with a high and low of 305 and 200 Ksh respectively leading to a range of 105 Ksh.
On the other hand, Britam Holdings, with a low 0.10 Ksh per share nominal value was at 13.20 per share was valued at 132 times nominal too. It also was the 2nd least volatile of the lot with high and low of 15.5 and 9.00 Ksh within the last year.
I & M Holdings, in the banking sector cane in next at 4th place with 1 Ksh nominal value and average price of 103 Ksh or 103 times the nominal. Within the last one year, its high and low were 113 and 74 Ksh per share leading to 29 Ksh range.
Below these, were equities with double digit times nominal value. Jubilee Holdings in the insurance sector like Britam, by June 23 had 429 Ksh average price which was 85.8 timed its 5ksh nominal value and had the 5th most volatile with 95 Ksh range between its one year high 510 Ksh and low 415 Ksh.
Centum Investment ltd featured at the 6th position with 42.25 Ksh per share quotation that was 84.5 times its lowly 0.50 ksh per share nominal value. It was however, the least volatile of the 15 with high and low of 44 and 38 Ksh in 52 weeks.
British American Tobacco has one of the highest nominal value per share in the market (10 Ksh) yet at 800 Ksh per share, its quotation was still 80 times and high enough to make the top 10 high priced equities. Its price was most volatile in the last one year as its range came to 170Ksh between high and low of 920 and 750 Ksh per share.
At the 8th position was the 2nd bank in the top 10: Equity group. At 37.50 Ksh average price on June 23, it was valued at 75 times it's 0.50 Ksh nominal value though having a range of only 17.5 Ksh between its high and low of 41 and 23.50 Ksh per share.
The only equity in the almost always quiet agriculture sector was Kakuzi quoted at an average of 319 Ksh per share but this was only 63.8 times its 5.00 Ksg nominal value. Its high and low were 329 and 280 Ksh.
Finally, Nation Media in the commercial and services sector made it to the 10th place with 107 Ksh per share average price which was 42.8 times its 2.50 Ksh per share nominal value.
The rest of the 15 high priced equities were Standard Chartered Bank valued at 41.8 times nominal value; Diamond Trust bank (39 times); Williamson Tea (38 times); KCB group (37.5 times) and Bamburi cement valued at 36 times its 5 Ksh per share nominal value.
Of the 66 companies quoted on the market by June 23, 15 or 22.7% were valued averagely at above 30 times nominal value.
A word of caution though: There are two clear differences between the Nigerian stock market list and that of Nairobi: In the Nigerian one most listed companies have par or nominal value of N0.50 as is there is an implied agreement on this.
On the other hand, at Nairobi most of the equities do not share common par value, they differ greatly.
Then another thing, Nigerian equities are not valued below par, Nairobi ones can and many are so valued.
Of the top 15 high priced equities at the Nairobi market, Safaricom topped with because by June 23, at 23.25 Ksh average price, it was valued 465 times its nominal value of just 0.05 Ksh per share.
However, in the last one year, while also most times dominating volume and not traded value because of its low nominal price, it has been the 3rd least volatile of the top 15 high priced shares.
At the second position amongst top 10 high priced equities were the duo of East African Breweries and Britam Holdings.
Manufacturing sector's leading value contributor, EA Breweries at 264 Ksh average price by June 23, was priced 132 times its 2.0 Ksh nominal value and in the last one year, also was the 3rd most volatile of the 15 with a high and low of 305 and 200 Ksh respectively leading to a range of 105 Ksh.
On the other hand, Britam Holdings, with a low 0.10 Ksh per share nominal value was at 13.20 per share was valued at 132 times nominal too. It also was the 2nd least volatile of the lot with high and low of 15.5 and 9.00 Ksh within the last year.
I & M Holdings, in the banking sector cane in next at 4th place with 1 Ksh nominal value and average price of 103 Ksh or 103 times the nominal. Within the last one year, its high and low were 113 and 74 Ksh per share leading to 29 Ksh range.
Below these, were equities with double digit times nominal value. Jubilee Holdings in the insurance sector like Britam, by June 23 had 429 Ksh average price which was 85.8 timed its 5ksh nominal value and had the 5th most volatile with 95 Ksh range between its one year high 510 Ksh and low 415 Ksh.
Centum Investment ltd featured at the 6th position with 42.25 Ksh per share quotation that was 84.5 times its lowly 0.50 ksh per share nominal value. It was however, the least volatile of the 15 with high and low of 44 and 38 Ksh in 52 weeks.
British American Tobacco has one of the highest nominal value per share in the market (10 Ksh) yet at 800 Ksh per share, its quotation was still 80 times and high enough to make the top 10 high priced equities. Its price was most volatile in the last one year as its range came to 170Ksh between high and low of 920 and 750 Ksh per share.
At the 8th position was the 2nd bank in the top 10: Equity group. At 37.50 Ksh average price on June 23, it was valued at 75 times it's 0.50 Ksh nominal value though having a range of only 17.5 Ksh between its high and low of 41 and 23.50 Ksh per share.
The only equity in the almost always quiet agriculture sector was Kakuzi quoted at an average of 319 Ksh per share but this was only 63.8 times its 5.00 Ksg nominal value. Its high and low were 329 and 280 Ksh.
Finally, Nation Media in the commercial and services sector made it to the 10th place with 107 Ksh per share average price which was 42.8 times its 2.50 Ksh per share nominal value.
The rest of the 15 high priced equities were Standard Chartered Bank valued at 41.8 times nominal value; Diamond Trust bank (39 times); Williamson Tea (38 times); KCB group (37.5 times) and Bamburi cement valued at 36 times its 5 Ksh per share nominal value.
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