@Sober the valuation by KPMG for uchumi was 12/- per share. the debenture shares were offered at a discount of 10/-. the total issued shares rose from 180million to 266million.

I had a chance to attend the AGM on 21st April proxy and had a quick chat with Ciano who is also a shareholder. He did a presentation on the past and the future prospects of uchumi and IMHO the projections upto 2014 looked quite solid and achievable. The assets are in the region of 3.6billion the turnover 11billion

It closed at Ksh14.95, with the share dilution and the debt still on its books, I think Ksh5 doesn't sound too bad.

Wendz]I have no appetite for this one..... at least not in the near future.

@ Wendz here is some useful reading from Nakumatt on the retail sector in East africa. The potential is huge

http://www.trademarksa.o...eac-policy-supermarkets

According to Neel Shah the Business Development Director "At the current market coverage, the formal retail trade is by far an investor's haven and will without doubt be the next most sort after economic sector in less than two years,"

In the next ten years, Nakumatt Holdings is forecasting that close to 25 million customers across the region will have access to formal retail trade facilities. Nakumatt's projection for values monthly sales at US$700million (Sh58.1 billion) mark and selling space reaching close to 40Million sq feet up from 15million square feet today.

According to a market research conducted by Nakumatt which is the biggest player in the regional retail market, the sector is currently not leveled and favours the informal operators. Formal retail according to the research covers only about 20 per cent of the market.

Lifestyle and Ngong Road not 24 hrs anymore. Former 7am - 10pm, latter will close at midnight. Not that I care as I'm an Uchumi diehard.