United Bank 300 % paid up shares

[Lenmon]

Dear Warka Investors,





United Bank will be issuing 300% paid up shares at the price of IQD (1) per share for those shares owned prior to holding its general assembly meeting.





Investors are kindly requested to submit their signed authorization letters to purchase the paid up shares by May 26th 2009 and any request received after this date will be considered null and void by our bank.





Best regards,





ISX Department

Warka Bank for Investment and Finance

I don't have this one unless it goes by another name too.

[Fishindinar]

Wish I bought United Bank. This is almost like free money because United is at 1.85 and they are offering it for 1 per share.........sweeeeeeeeeeeeeeeet

[Raj-Dinar]

Is United Bank is also known as Commercial Bank of Iraq? anyone?

[24mm exposed grid]

Is United Bank is also known as Commercial Bank of Iraq? anyone?

No, United Bank is United Bank for Investment and Commercial Bank is Commercial Bank of Iraq. Simple as that on that one !

I have quite a bit of United Bank, so 300% @ 1 dinar is superb news for me.

[Raj-Dinar]

Thanks 24mm for that clarification.

[BettingOn Iraq]

Wish I bought United Bank. This is almost like free money because United is at 1.85 and they are offering it for 1 per share.........sweeeeeeeeeeeeeeeet

Hi Fish,
You helped me when I first wanted to purchase stock. You told me to keep money available for paid up shares.
I guess the one thing I did right was purchase United Bank. No other stock I own so far has bought this big of a reward.
This is what it's all about, huh? Thanks.


Betting

[Fishindinar]

Glad to hear it.

[MarkOne]

This is amazing. I do not have any history of ANY company offering such a high percentage of Paid Up Capital Shares in the ISX.

[Scott Gonzales]

I like companies that have been around for a long time. United bank has not been in the ISX that long. They have shown no staying power. This request for paid up capital shares can be seen as a good thing or a bad thing. If it was Warka, definitely good. But United, I would have to think twice. Maybe someone else knows some of the inside information about this bank. I do not.

[Crow]

I like companies that have been around for a long time. United bank has not been in the ISX that long. They have shown no staying power. This request for paid up capital shares can be seen as a good thing or a bad thing. If it was Warka, definitely good. But United, I would have to think twice. Maybe someone else knows some of the inside information about this bank. I do not. United Bank has been around for years, ( used to also be called Al-Mutaheed bank) Had about 6 branches last I heard, but I feel this is a good deal as some large investors are putting money into it. Remember, current shareholders have first shot at any shares offered to increase capital, other investors will pick up any shares not purchased by current holders. Very good IPO.:yes:

[calstar]

Thanks Crow!!!!! :clapping:

[Crow]

Thanks Crow!!!!! :clapping: Still in Kuwait?

[opportunist]

The bank is under capitalized.

The are many questions you have to ask? If you understand Banks the raising of capital is foretelling of several things.

The need to raise capital in and of itself is not good for a bank that has been around for awhile. Why?

I would not be so eager to buy shares.

[calstar]

I have been home for one month and did a trip to St Lucia.

[Crow]

The bank is under capitalized.

The are many questions you have to ask? If you understand Banks the raising of capital is foretelling of several things.

The need to raise capital in and of itself is not good for a bank that has been around for awhile. Why?

I would not be so eager to buy shares. The whole idea behind stock markets is to raise capital.:rolleyes: The bank is trying to do that, you make a investment, help them raise capital, the bank does good, your rewarded. Pretty simple.:smiley:

[Crow]

I have been home for one month and did a trip to St Lucia. Time went by fast.:time: Glad everything worked out.:yes:

[opportunist]

The whole idea behind stock markets is to raise capital.:rolleyes: The bank is trying to do that, you make a investment, help them raise capital, the bank does good, your rewarded. Pretty simple.:smiley:


The whole idea behind the stock market is to produce revenue. Investors are then rewarded with a higher PE.
This bank is having a hard time producing income. To stay in business they need to increase capital.They had no income to distribute in the form of free paid up capital shares.

Yes, it is pretty simple.

And you have every right to gobble up as many shares as warranted.

[Crow]

The whole idea behind the stock market is to produce revenue. Investors are then rewarded with a higher PE.
This bank is having a hard time producing income. To stay in business they need to increase capital.They had no income to distribute in the form of free paid up capital shares.

Yes, it is pretty simple.

And you have every right to gobble up as many shares as warranted.
This market is a lot different then what many are used to..this is a pre- emerging market.....very few understand this.

[Seaview]

paid up shares. :happy: :smile:

[Crow]

paid up shares. :happy: :smile: People should take advantage of all these offers....Years from now, many will look back and.......:crying:.

[darog]

its kind of shocking when i drop 20 million dinars into the isx just to have all of these paid up shares come my way. i bought 1 million shares of united bank back in march when i thought they first came out on the market. now i need to come up with an additional 3 million dinars. this is such a good problem to have. i love the isx
:drink:

[24mm exposed grid]

I have to agree with Crow, this is an emerging market, standard line of thinking for established markets does not apply in my opinion. Most of the banks are raising capital in one way or another as part of planned growth. I can not see this as a bad thing or a warning sign.

For what its worth, I cant really see P/E ratios coming into the equation for a couple of years yet. For me it is all about positioning at the present time. I'm taking the full 300% offered

[Fishindinar]

United Bank has been around for years, ( used to also be called Al-Mutaheed bank) Had about 6 branches last I heard, but I feel this is a good deal as some large investors are putting money into it. Remember, current shareholders have first shot at any shares offered to increase capital, other investors will pick up any shares not purchased by current holders. Very good IPO.:yes:

Crow do you mean it is possible for other investors to buy United Bank for 1 dinar per share?

[Crow]

[/b][/color]

Crow do you mean it is possible for other investors to buy United Bank for 1 dinar per share? Depends what kind of deal was made. Large investors. This is to protect present shareholders from dilution.

[lglwzrd]

damn-it!! no united bank!! its like bingo-a stock is called, some kind of benefit is available, i check my tracker and bingo or zero!!:angry:

[BettingOn Iraq]

The whole idea behind stock markets is to raise capital.:rolleyes: The bank is trying to do that, you make a investment, help them raise capital, the bank does good, your rewarded. Pretty simple.:smiley:

I counted 12 Iraqi banks increasing capital at this time. I agree with you Crow, this is the ISX in it's infancy. Some banks may not make it or will merge or be bought out by larger banks.
I will take my chance and buy as many paid up shares I'm allowed.
Thank you, Crow.

[Fishindinar]

I must say the great thing about the ISX is that all these companies are really like penny stocks except for the fact they were major businesses before the war and they survived through the war. This is a once in a lifetime deal and thank you admin. for creating this forum.

[Crow]

I counted 12 Iraqi banks increasing capital at this time. I agree with you Crow, this is the ISX in it's infancy. Some banks may not make it or will merge or be bought out by larger banks.
I will take my chance and buy as many paid up shares I'm allowed.
Thank you, Crow. Pick up every share you can, in whatever bank, many deals are in the works.:yes:

[iraqiDave]

I have shares in all the banks.... What other banks are issuing paid up shares? The only other bank I know of is Islamic, and I've already submitted my form.. Is warka offering any paid up shares?

[24mm exposed grid]

I have shares in all the banks.... What other banks are issuing paid up shares? The only other bank I know of is Islamic, and I've already submitted my form.. Is warka offering any paid up shares?

No paid up shares from Warka, but expect decent offers from Economy Bank and Babylon bank hopefully in the very near future though.

[iraqiDave]

No paid up shares from Warka, but expect decent offers from Economy Bank and Babylon bank hopefully in the very near future though.

Cheers mate,

Do you know if Warka are back trading? If so, any idea what price they're trading at? My final CD just expired, so I'm looking to get more stock. Don't want to buy at the top...

[War Eagle]

Not trading as of May 14

[24mm exposed grid]

Warka have not re-commenced trading as yet, I dont know how long it will be till they do. I assume you are aware of the free shares that they have issued ?

Although I do hold Warka, I made the mistake (I believe) of not buying heavily enough into this bank, and will buy another million shares when they do start trading again. I personally, am not concerned if I buy at a peak or not really, as it is pure long term buy and hold. My own opinion is that I would rather be sure, than to wait for a pullback that may not come.

Best of Luck to you.

[Crow]

Warka have not re-commenced trading as yet, I dont know how long it will be till they do. I assume you are aware of the free shares that they have issued ?

Although I do hold Warka, I made the mistake (I believe) of not buying heavily enough into this bank, and will buy another million shares when they do start trading again. I personally, am not concerned if I buy at a peak or not really, as it is pure long term buy and hold. My own opinion is that I would rather be sure, than to wait for a pullback that may not come.

Best of Luck to you. Going heavy into Warka is key in two respects, first it is the fastest growing bank in Iraq ( with possible future major expansion outside Iraq) and also a play on a possible future "dinar event" if there is a currency change dinar would flow into Warka.

[iraqiDave]

Crow, When do you think Warka will start trading again and what do you reckon the share price will be? I want to stockup on Warka asap, as I'm going away so I probably won't be around much..... Cheers guys

[Crow]

Crow, When do you think Warka will start trading again and what do you reckon the share price will be? I want to stockup on Warka asap, as I'm going away so I probably won't be around much..... Cheers guys Very unpredictable , sometimes it is short, sometimes very long ...months, just check when you can. Good luck on your trip, or whatever.:yes:

[BettingOn Iraq]

Pick up every share you can, in whatever bank, many deals are in the works.:yes:

Thanks Crow!! I will, money put aside just for that purpose.
I pay close attention to what you say about the ISX.

[Crow]

Thanks Crow!! I will, money put aside just for that purpose.
I pay close attention to what you say about the ISX. A lot of deals are being set up away from the exchange, just because a stock is not trading does not mean nothing is being set up to trade later. This might upset some, but as long as current shareholders are protected and have first rights, I feel it's alright.

[Crow]

Whatever deals are made, the protection of current shareholders is key. TAKE ADVANTAGE OF ANY PAID IN SHARE OFFERS.

[24mm exposed grid]

Going heavy into Warka is key in two respects, first it is the fastest growing bank in Iraq ( with possible future major expansion outside Iraq) and also a play on a possible future "dinar event" if there is a currency change dinar would flow into Warka.

Absolutely Crow.

I think in the past I have wrongly construed Warka as being a bit of a one man show. Mr I seems to deal with absolutely everything, without him Lord only knows what a mess the foreign accounts might be in. I used to view this quite wrongly as a negative. It is only in the past few months have I stepped back and viewed the bigger picture.

Sometimes you dont see the forest for all the damn trees you are looking at !

Warka is an Iraqi Bank first and foremost. Mr I is an asset that no other bank in Iraq currently has. He should be viewed as an extra over benefit of dealing with Warka, rather than a typical example of how they do business with the average Iraqi. At the end of the day, the mainstay of the Warka market will be Iraqi clientelle, and to that end I am sure they are adequately provided for.

I am just a bit gutted really that I did not load up on Warka last year, when they were languishing at 1.35 for months on end.

Anyway, thats an admission of my own shortsightedness. My 20 / 20 hindsight is in perfect working order as usual. :giggle:

[iraqiDave]

Absolutely Crow.

I think in the past I have wrongly construed Warka as being a bit of a one man show. Mr I seems to deal with absolutely everything, without him Lord only knows what a mess the foreign accounts might be in. I used to view this quite wrongly as a negative. It is only in the past few months have I stepped back and viewed the bigger picture.

Sometimes you dont see the forest for all the damn trees you are looking at !

Warka is an Iraqi Bank first and foremost. Mr I is an asset that no other bank in Iraq currently has. He should be viewed as an extra over benefit of dealing with Warka, rather than a typical example of how they do business with the average Iraqi. At the end of the day, the mainstay of the Warka market will be Iraqi clientelle, and to that end I am sure they are adequately provided for.

I am just a bit gutted really that I did not load up on Warka last year, when they were languishing at 1.35 for months on end.

Anyway, thats an admission of my own shortsightedness. My 20 / 20 hindsight is in perfect working order as usual. :giggle:


The warka share price should fall after the spilt. Hopefully they will open at around 1.4, which will be an excellent time to buy more. Hence me being anxious about when they will start trading. Warka is currently my largest holding along with bob...

[24mm exposed grid]

The warka share price should fall after the spilt. Hopefully they will open at around 1.4, which will be an excellent time to buy more. Hence me being anxious about when they will start trading. Warka is currently my largest holding along with bob...

Agreed. I dont think there is a bad time to buy Warka. I personally expect Warka to open a bit higher than 1.4. I am thinking more like 1.6 - 1.9, we shall see.

I will be filling my boots at whatever the price. Prior to the United offer, Warka was my 3rd largest holding behind Kurdistan and Babylon. I intend to double my position on Warka at the first opportunity.

[geowhiz]

Got my dividend credited toward my account. A whopping 59000 dinars. What's that? Enough to buy a bucket of KFC and a 6 pack?

[Chrispgy]

Geowhiz, are you saying you have received a dividend from Warka Bank for Warka Bank or are you referring to the Credit Bank dividend?

[geowhiz]

Geowhiz, are you saying you have received a dividend from Warka Bank for Warka Bank or are you referring to the Credit Bank dividend?


Credit Bank dividend. Sorry for the inexplicit post.


"Dividends from Credit Bank 40% for 2007
Free capital Shares 40% until 28-9-2008"

[calstar]

Mrs Winters is better!!! :rofl:Got my dividend credited toward my account. A whopping 59000 dinars. What's that? Enough to buy a bucket of KFC and a 6 pack?

[War Eagle]

Does anybody know what "free capital shares 40% until 28-92008" means?

[BettingOn Iraq]

A lot of deals are being set up away from the exchange, just because a stock is not trading does not mean nothing is being set up to trade later. This might upset some, but as long as current shareholders are protected and have first rights, I feel it's alright.

For me this is the exciting part, plus being a part of the growth of the ISX. :happy:

[opportunist]

I think I am the only one here on this board that does not see the positive in the "paid up capital shares"
"Emerging market" thesis is a joke.

Balance sheet and revenue means everything. Why would you take a chance? Free paid up capital shares and divi's prove me right. Ideal situaion will come when capital levels have been reached and Divi's only are distributed.

In time I guess we shall see.

Keep gobbling up those shares.

[iraqiDave]

I think I am the only one here on this board that does not see the positive in the "paid up capital shares"
"Emerging market" thesis is a joke.

Balance sheet and revenue means everything. Why would you take a chance? Free paid up capital shares and divi's prove me right. Ideal situaion will come when capital levels have been reached and Divi's only are distributed.

In time I guess we shall see.

Keep gobbling up those shares.


Paid up shares are good for the small guys in the ISX. The ones who only bought 50,000 shares of united bank, can now increase their shareholdings without buying the 200,000 minimum share amount...

[Fishindinar]

I think I am the only one here on this board that does not see the positive in the "paid up capital shares"
"Emerging market" thesis is a joke.

Balance sheet and revenue means everything. Why would you take a chance? Free paid up capital shares and divi's prove me right. Ideal situaion will come when capital levels have been reached and Divi's only are distributed.

In time I guess we shall see.

Keep gobbling up those shares.

Al Mansour hotel is offering free paid up shares for 2 dinar a share when it is trading at 37 NID. I got 12% dividend from North Bank but , if I had like
$10,000 grand in it $1,200 for free. If they had banks paying those kinds of dividends on the dow it would make front page of the New York Times.

[24mm exposed grid]

Got the United paid up shares this morning from Warka.

Only 3 months till they start trading again :doh:

[Seaview]

Got mine too. :happy: :happy::happy64:

[BettingOn Iraq]

Just checked.......I got mine this morning also!!!! :party: