I discussed KBCPA recently in July. When writing this update I reviewed that initial post and I am quite embarrassed about the incredibly poor grammar - profuse apologies!
I noted the convertible notes issued by KBC and the pretty decent return on offer (10% including franking credits on the issue price of $1) and also noted that although they were interesting, I was not buying because I was looking for more upside and would prefer to wait for a lower price. Interesting to see the price since come off to 96c and as a result KBC have announced a partial buy-back of the notes to help prop up the price. This is good for KBCPA holders and to be frank cheap buying by management. Unfortunately however it will probably mean they won't get to be a true bargain to get me buying.
Kristian
Disclosure: no position in the above names
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