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Home Afrika Listing at NSE!
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hisah
#511 Posted : Friday, April 11, 2014 4:42:05 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
dunkang wrote:
mwekez@ji wrote:
Looks like Home Afrika has scared the hell out of listings ---> Reading: Kenyan IT firm Seven Seas postpones IPO, initially set for 2013, to 2017 http://www.businessdailyafrica....2/-/136vfw2/-/index.html

If they price their shares resonably, then everyone will welcome it. But if they decide to get rich quickly, the spirit of HomeAfrika will befall them.

Thanks to HAFR for making GEMS a sensible market. There are some funny (pretender) counters at NSE that should be moved here to adjust to their true levels.

I like the fear in this market. When the fear turns to greed in future, I can see 1000% returns as the penny stocks rocket...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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obiero
#512 Posted : Thursday, April 24, 2014 6:49:09 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,478
Location: nairobi
VituVingiSana wrote:
obiero wrote:
dunkang wrote:
The pattern has been like this thus far!

a loss making firm is being hyped by the unschooled investors.. wenye wako hapa ndani uza!!! save the pride and sell!!!
Name names Applause Applause Applause

We were called naive and incompetent for calling a monkey a monkey, while others tried to make us believe its really a human being!!! The less I say about this bandia firm, the better. I called Home Afrika out as a bandia firm since listing and my insider information has for the upteenth time turned out right
COOP 306,100 ABP 31.96, KEGN 112,100 ABP 10.64, MTNU 131,000 ABP 10.21
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itz
#513 Posted : Thursday, April 24, 2014 10:23:07 PM
Rank: Member

Joined: 3/20/2009
Posts: 348
itz wrote:
saw the CEO interviewed last month and his argument was that investors at NSE don't know how to value stocks for real estate companies like his hence it is undervalued. even looking at their website you wonder whether this guyz are serious because there is lack of information on stuff a potential client should easily get from a website.They have invested in good growth areas both in Nairobi and in other counties but they need to be more organized to boost investor confidence.The future of Kenya real estate development will favor big players and I believe they will be one of them.



My previous statement was based on the CEO's interview here.looks like he was not being honest and the company wasn't either because it is them who had cooked the books and yet in this clip he was accusing investors of not being knowledgeable on how to value real estate company in the NSE.

watch http://www.youtube.com/watch?v=sphZEVMVaz4
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itz
#514 Posted : Thursday, April 24, 2014 10:26:16 PM
Rank: Member

Joined: 3/20/2009
Posts: 348
obiero wrote:
VituVingiSana wrote:
obiero wrote:
dunkang wrote:
The pattern has been like this thus far!

a loss making firm is being hyped by the unschooled investors.. wenye wako hapa ndani uza!!! save the pride and sell!!!
Name names Applause Applause Applause

We were called naive and incompetent for calling a monkey a monkey, while others tried to make us believe its really a human being!!! The less I say about this bandia firm, the better. I called Home Afrika out as a bandia firm since listing and my insider information has for the upteenth time turned out right


Good call @Obiero
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Ali Baba
#515 Posted : Friday, April 25, 2014 3:32:57 AM
Rank: Member

Joined: 8/29/2008
Posts: 573
itz wrote:
obiero wrote:
VituVingiSana wrote:
obiero wrote:
dunkang wrote:
The pattern has been like this thus far!

a loss making firm is being hyped by the unschooled investors.. wenye wako hapa ndani uza!!! save the pride and sell!!!
Name names Applause Applause Applause

We were called naive and incompetent for calling a monkey a monkey, while others tried to make us believe its really a human being!!! The less I say about this bandia firm, the better. I called Home Afrika out as a bandia firm since listing and my insider information has for the upteenth time turned out right


Good call @Obiero
we were here when Wazuans dismissed Safaricom,Centum,Britam and others.Those who were patient and ignored wazuans,made a killing.Im looking for sh one million and then go on a buying spree.You guys sell to me.
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stocksmaster
#516 Posted : Friday, April 25, 2014 5:14:58 AM
Rank: Member

Joined: 9/26/2006
Posts: 463
Location: CENTRAL PROVINCE
stocksmaster wrote:
cnn wrote:
mwekez@ji wrote:
A crazy observation is that they paid PKF to value the company at KES 8.5B. Thats a price per share of a whopping 21 bob!!! ... No details given on valuation methodology!!! ... DAMN!!!... CMA is sleeping on the job for not demanding information memorandum before this counter is listed!!!

I saw that and i was thinking how did they get to this....without the IM,my money stays safe.


At a net income of Ksh 167.7M for 2012 and a Book Value of Ksh 8.5B (which i assume will be the basis of determination of listing price); its return on equity = net income/shareholders equity is a depressing 1.97%.

Compare this with the ROE of Trans Century at 15.1% (P/B of 1.8); Centum at 18.4% (P/B of 1.0); Housing Finance at 15.0% (P/B of 1.1).

At such a low ROE, which is about an eighth of its peers,i would price the share at a tenth of Ksh 21 hence a price of Ksh 2.00.

The price of Ksh 2.00 would mean a P/E of 4.30 which would be comparable to HFCK (p/e 7.5); Centum (p/e 5.6), trancentury (p/e of 12) all of which have better investor returns.

Based on the 2011 results which were a loss position, i think i'll stay out of this one unless their is a significant discount on the Ksh 2.00.

Happy Hunting.


Happy hunting.
x handle: @stocksmaster79
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murchr
#517 Posted : Friday, April 25, 2014 6:02:02 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
stocksmaster wrote:
stocksmaster wrote:
cnn wrote:
mwekez@ji wrote:
A crazy observation is that they paid PKF to value the company at KES 8.5B. Thats a price per share of a whopping 21 bob!!! ... No details given on valuation methodology!!! ... DAMN!!!... CMA is sleeping on the job for not demanding information memorandum before this counter is listed!!!

I saw that and i was thinking how did they get to this....without the IM,my money stays safe.


At a net income of Ksh 167.7M for 2012 and a Book Value of Ksh 8.5B (which i assume will be the basis of determination of listing price); its return on equity = net income/shareholders equity is a depressing 1.97%.

Compare this with the ROE of Trans Century at 15.1% (P/B of 1.8); Centum at 18.4% (P/B of 1.0); Housing Finance at 15.0% (P/B of 1.1).

At such a low ROE, which is about an eighth of its peers,i would price the share at a tenth of Ksh 21 hence a price of Ksh 2.00.

The price of Ksh 2.00 would mean a P/E of 4.30 which would be comparable to HFCK (p/e 7.5); Centum (p/e 5.6), trancentury (p/e of 12) all of which have better investor returns.

Based on the 2011 results which were a loss position, i think i'll stay out of this one unless their is a significant discount on the Ksh 2.00.

Happy Hunting.


Happy hunting.


Applause Applause Applause Applause Applause Applause Applause Applause Applause Applause Applause Applause
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Kihara joni
#518 Posted : Saturday, May 17, 2014 11:44:51 AM
Rank: Member

Joined: 5/8/2013
Posts: 386
Location: Nyali mombasa
Over 5m shares moved, wonder who is buying in Homeafrika
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dunkang
#519 Posted : Tuesday, July 22, 2014 2:18:19 PM
Rank: Elder

Joined: 6/2/2011
Posts: 4,824
Location: -1.2107, 36.8831
guru267 wrote:

My average cost for all my Home Afrika shares is currently 14.05...

Tomorrow i'll buy more at 12.15 to bring my average down to 13.35 and so on and so forth!!!

Laughing out loudly Laughing out loudly

OK. 4/- headed towards 3s.
Receive with simplicity everything that happens to you.” ― Rashi

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icecube
#520 Posted : Tuesday, July 22, 2014 5:15:59 PM
Rank: Member

Joined: 1/2/2008
Posts: 268
Location: Nairobi
dunkang wrote:
guru267 wrote:

My average cost for all my Home Afrika shares is currently 14.05...

Tomorrow i'll buy more at 12.15 to bring my average down to 13.35 and so on and so forth!!!

Laughing out loudly Laughing out loudly

OK. 4/- headed towards 3s.


Now there is a perfect opportunity to bring down the average to below 10 bob
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