They are listing on Monday and giving Information Memorandum the same day?

I could be wrong but me thinks these guys are stingy with information.

@mwekez@ji true dat. I also tried getting info on their property bonds but failed.

Company growth target:" to build a One Billion Dollar Company in the next five years. This is based on cumulative business turnover of sales in Kenya and around Africa for that period."

2012 Annual Report http://homeafrika.com/blog/read/173

Main aims of this listing:
1. Unlock shareholders wealth
2. Create opportunity for Home Afrika to raise funds for Development.

Tough job analysing real estate development company income statement because its property sales revenue and cost have a high duration mismatch. For instance, this company seems to have incurred major cost in year 2011 while sales were low resulting to a loss before tax of KES 285M. However, in year 2012, the company recorded higher sales and lower cost resulting to a profit before tax of KES 258M. In year 2013, …. (very difficult to forecast) .... an information memorandum could have given us past 5 years performance, 1H 2013 performance and most likely a projection of 2H 2013 performance